This was an historic year for the Postal Service. It was forced to default on two of its prefunding payments into the Retiree Health Benefits Fund due to its liquidity crisis. Without legislative change or other significant action, the Postal Service expects to lose more than $18 billion by 2015. While the situation is desperate, we do not think it is catastrophic. In fact, our work has indicated that the Postal Service has many opportunities to reduce its costs and position itself for new revenue opportunities. The savings from these efforts, some of which would require legislative action, would exceed the Postal Service’s projected shortfalls.
You may have noticed that most of our blogs are based on our recent audit reports, which lets us highlight some of our work and solicit feedback from readers. Stakeholder input often provides ideas for future reports.
In fact, our ideas for audit work must be balanced between stakeholder...Read More