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.
This Veterans Day falls on the 100th anniversary of the end of World War I, when the armistice was enacted on the eleventh hour on the eleventh day of the eleventh month in 1918.
Ceremonies and occasions to mark the centennial anniversary are planned nationwide, including a...Read More