Tag: USA

The U.S. Postal Service’s financial outlook is bleak and getting bleaker, according to members of Congress, a presidential commission, the General Accounting Office and postal officials themselves. It is bad enough that some federal officials are warning of a huge taxpayer bailout — or dramatic increases in postal rates — if Congress does not reorganize the USD67 billion-a-year entity soon to help it operate more efficiently. “The Postal Service as an institution probably cannot survive without fundamental reform,” Sen. Susan Collins (R-Maine), chairman of the Senate Governmental Affairs Committee, said at a Capitol Hill hearing this month. A nine-member presidential commission that spent seven months last year studying the future of the Postal Service sounded a similar alarm. The panel concluded in a 181-page report that the institution is in “significant jeopardy” and may not be able to continue delivering mail to every address six days a week.