The United States Postal Service — which has a long record of massive operating losses — seems to be getting serious about its financial and operational problems.
Yesterday the AP reported that the Postal Service is considering eliminating 120,000 jobs, out of a labor force of more than 500,000, and withdrawing from government retirement and health care plans. The moves are in conjunction with other plans to stop the money hemorrhage at the Postal Service, which has seen sharp drops in the volume of “snail mail” it delivers due to use of email and the internet. The other plans also include eliminating Saturday mail delivery and closing post offices and other facilities with little traffic.
These proposals all require congressional approval. So far, Congress hasn’t acted, and the money drain continues. If Congress is really serious about reducing our deficit spending, making some common-sense modifications to Postal Service operations to try to stop the tide of red ink is a good place to start.