It’s All Your Money: Taxpayers may be on hook for US Postal Service losses
The U.S. Postal Service is often the butt of jokes, but there’s nothing funny about the agency’s bottom line.
The USPS is losing up to $25 million dollars a day. Until now, taxpayers have not been on the hook for its mounting losses, but that could be about to change. A bailout recently approved by the Senate would appropriate $34 billion in federal money.
“If the post office was a business, it would be in bankruptcy,” said Rep. Dennis Ross, R-Fla. “It’s insolvent.”