National Debt Clock

Monday, August 31, 2009

Don't Bail Out The Mail

"The nation's third-largest employer, the USPS posted its second consecutive multibillion-dollar loss in 2008. And mail volume has been locked in perpetual decline."

"To make matters worse, USPS is now lining up at Congress' financial soup kitchen--seeking what amounts to a taxpayer bailout."

"Make no mistake--despite being an 'independent' government agency, the Postal Service is not self-sufficient. It is kept afloat by a number of hidden taxpayer subsidies."

"For starters, it has a monopoly on First Class and Standard mail. No private company can deliver a letter for less than $3 or twice what USPS charges, whichever is greater. And only USPS can legally use your mailbox, despite the fact that you own it."

"Meanwhile, USPS is immune from antitrust lawsuits and exempt from taxes on its massive real-estate holdings, which include over 8,000 facilities. It enjoys power of eminent domain. And it doesn't even pay parking tickets."

"Despite these and other advantages, the Postal Service is struggling to stay afloat. And rising postage rates only exacerbate the decline in mail volume."

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