The head of the U.S. Postal Service (USPS) is expected to tell Congress on Tuesday that the agency needs to increase its borrowing capacity or face “the end of the Postal Service as we know it now.”
“In order to ensure our survival beyond next year, we need to increase our borrowing capacity so that we don’t run out of cash,” Postmaster General David Steiner’s written testimony obtained by Reuters said. “The failure to do this could lead to the end of the Postal Service as we know it now.”
USPS, which delivers to more than 170 million U.S. addresses six days a week, has a borrowing cap of $15 billion and has already hit that limit.
>The head of the U.S. Postal Service (USPS) is expected to tell Congress on Tuesday that the agency needs to increase its borrowing capacity or face “the end of the Postal Service as we know it now.”
>Steiner’s testimony identified potential options to cut costs, including ending six-day-a-week deliveries, closing post offices or raising first-class mail stamp prices to $1 or more, up from the current $0.78.
>Steiner said USPS would save about $3 billion a year by only delivering five days a week, and $840 million by closing small post offices in remote areas. He said these ideas “may not be palatable to Congress or the American public.”
Redtex on
Just what the GOP wanted for the last decade
dubphonics on
Amazon will do it for a song and a dance. Just ask Jeff “the humanitarian” Bezos. Man has every American’s well-being at heart. Such a sweetheart.
jainyday on
Totally isn’t intended to disenfranchise mail-in voters.
ianrl337 on
Don’t they still have to keep an insane amount of cash on hand for pensions out to 30 years? More than any company normally and can do.
JFJinCO on
DeJoy knew they were sabotaging it, and got out before it could be blamed on him.
biscuitarse on
Taking the ‘public service’ out of the American Postal Service. Ain’t unfettered capitalism grand?
Grantagonist on
I can’t figure out why Democrats can’t make an issue out of this in messaging to rural areas where the Post Office is probably an important institution/utility in towns. I’m sure most people will realize that they’re not going to get a better deal from FedEx and UPS.
KaliMau on
This has been their whole plan. Privatize. Profiteer. And destabilize democracy.
Another FAFO moment for rural trump voters. That last leg of deliveries to rural areas is usually done by USPS. Why? Not profitable.
From AI: The USPS “final leg” or last-mile delivery network connects over 170 million addresses, providing the crucial final step of shipping from local postal units to homes or businesses.
w4rma on
Billionaires stopped building things a while ago. Now they just destroy, pillage, and abuse children.
healywylie on
R.E.M. did it better.
intentionalfrowning on
This postmaster general was on the board of directors for FedEx in case you’re wondering what direction this is going
FluidFisherman6843 on
Just a reminder that there is more constitutional basis for the post office than there is for a standing military.
IvanTortuga on
We need to balkanize already. I’m sick of 1/3rd of this country absolutely fucking it up for the rest of us.
SuperstitiousPigeon5 on
It’s a service, it’s guaranteed by the constitution. Go fuck yourself.
JDogg126 on
A long time ago Ronald Reagan joked about the problem with government is government. Republicans have spent 46 years doing everything they can to make those words true. Decades of defunding, deficit spending, deregulation, privatization, etc all to pillage and make profit from things that should never have a profit motive. Be it water, electricity, security, healthcare, education, etc none of that should have a profit motive. It should all be run by the people for the people to make a better, more stable, and more prosperous society for all — not just the few.
oxdeaddeed on
If we can afford to go to war with a country every other week, we can afford to fund the damn mailman
KeepCalmCarryOnKY on
Right before midterms, right?
Raspberries-Are-Evil on
Who could have predicted the guy who was heavily invested in private companies like Fed Ex and UPS would destroy USPS, that didn’t cost a dime of tax dollars and was one of this country’s greatest institutions since the 1700s.
MiloGoesToTheFatFarm on
Buying stamps and sending stuff via usps is fundamentally American.
FlickrReddit on
Eject this idiot. The current shambolic ‘administration’ can’t end soon enough.
We need a real Post Office. A public service available to all. One that is not required to show a profit, but is instead focused on a single job of moving mail.
Zappavishnu on
We used to have a postal system that was the envy of the world.
Now, like everything else, it’s being destroyed by the GOP because they think everything should be private.
raerae1991 on
GOP, wants to break the government programs
Lurker-DaySaint on
Wow it sounds like you’re not very good at your job (but very good at your secret evil job)
Unique-Coffee5087 on
One thing that people don’t realize is that the United States has some of the cheapest first-class mail in the world. A domestic letter in the Netherlands costs about 1.2 euros, which is about $1.30. a domestic letter within the United States, which is a huge area, costs about $0.80. A first class domestic letter in the UK would cost the equivalent of a $2.25.
I do not understand why people complain about the US postal service as though it were inefficient. Especially considering that it has to provide service to far-flung rural addresses without a surcharge.
jboarei on
Also just trying to spread this bullshit since carriers contract is up for negotiation.
This guy is complete scum
Ok-disaster2022 on
Government services should not provide a direct profit to the government. The US military just costs hundreds of billions with no direct profit to the US government why should any other investment be required toncreat a profit? Government spending helps local economies and provides jobs and devices that reduce the cost and barriers to business.
The postal service provided equal service to everyone. Fedex will give massive discounts to large shippers, giving larger firms a competitive advantage over smaller firma.
Silly_Haze_8v on
Fuck this country, and fuck these conservative bastards. All these corrupt fucks deserve a deep dark place in hell. This shouldn’t be happening, this is such bullshit.
RoutineCowMan on
It’s a service, fucking fund it instead of blowing up innocent girls in Iran.
The Republicans wanted this forever, and they are evil for destroying a great institution.
EnslavedBandicoot on
So fund it. We can spend $10 billion on Trump suing the IRS, we can fund the postal service.
bookworm21765 on
Every decision made seems to be engineered to make usps fail.
takesjuantogrowone on
Don’t forget the underlying racist motivations:
>Postal jobs have long been a road to the middle-class for Black Americans. The Postal Service began employing Black workers shortly after the Civil War and became a major source of good, middle-class jobs for this share of the workforce in the early 20th century.
>In 2022, Black workers made up 29.0 percent of the Postal Service workforce — more than double their 12.6 percent share of the total U.S. labor force. According to Institute for Policy Studies analysis of Bureau of Labor Statistics data, postal workers have by far the highest median annual wage ($51,730) and the highest median hourly wage ($24.87) among the 10 occupations with the heaviest representation of Black workers.
38 Comments
…he said with a big smile.
From the article:
The head of the U.S. Postal Service (USPS) is expected to tell Congress on Tuesday that the agency needs to increase its borrowing capacity or face “the end of the Postal Service as we know it now.”
“In order to ensure our survival beyond next year, we need to increase our borrowing capacity so that we don’t run out of cash,” Postmaster General David Steiner’s written testimony obtained by Reuters said. “The failure to do this could lead to the end of the Postal Service as we know it now.”
USPS, which delivers to more than 170 million U.S. addresses six days a week, has a borrowing cap of $15 billion and has already hit that limit.
Read more: [https://www.newsweek.com/postmaster-warns-of-end-of-postal-service-as-we-know-it-11686357?utm_source=reddit&utm_campaign=reddit_influencers](https://www.newsweek.com/postmaster-warns-of-end-of-postal-service-as-we-know-it-11686357?utm_source=reddit&utm_campaign=reddit_influencers)
>The head of the U.S. Postal Service (USPS) is expected to tell Congress on Tuesday that the agency needs to increase its borrowing capacity or face “the end of the Postal Service as we know it now.”
>Steiner’s testimony identified potential options to cut costs, including ending six-day-a-week deliveries, closing post offices or raising first-class mail stamp prices to $1 or more, up from the current $0.78.
>Steiner said USPS would save about $3 billion a year by only delivering five days a week, and $840 million by closing small post offices in remote areas. He said these ideas “may not be palatable to Congress or the American public.”
Just what the GOP wanted for the last decade
Amazon will do it for a song and a dance. Just ask Jeff “the humanitarian” Bezos. Man has every American’s well-being at heart. Such a sweetheart.
Totally isn’t intended to disenfranchise mail-in voters.
Don’t they still have to keep an insane amount of cash on hand for pensions out to 30 years? More than any company normally and can do.
DeJoy knew they were sabotaging it, and got out before it could be blamed on him.
Taking the ‘public service’ out of the American Postal Service. Ain’t unfettered capitalism grand?
I can’t figure out why Democrats can’t make an issue out of this in messaging to rural areas where the Post Office is probably an important institution/utility in towns. I’m sure most people will realize that they’re not going to get a better deal from FedEx and UPS.
This has been their whole plan. Privatize. Profiteer. And destabilize democracy.
https://truthout.org/articles/the-gop-has-every-reason-to-want-the-us-postal-service-to-fail/
https://www.epi.org/publication/the-war-against-the-postal-service/
How many years would one day of war cover?
Wasn’t that why he was put in that position?
Another FAFO moment for rural trump voters. That last leg of deliveries to rural areas is usually done by USPS. Why? Not profitable.
From AI: The USPS “final leg” or last-mile delivery network connects over 170 million addresses, providing the crucial final step of shipping from local postal units to homes or businesses.
Billionaires stopped building things a while ago. Now they just destroy, pillage, and abuse children.
R.E.M. did it better.
This postmaster general was on the board of directors for FedEx in case you’re wondering what direction this is going
Just a reminder that there is more constitutional basis for the post office than there is for a standing military.
We need to balkanize already. I’m sick of 1/3rd of this country absolutely fucking it up for the rest of us.
It’s a service, it’s guaranteed by the constitution. Go fuck yourself.
A long time ago Ronald Reagan joked about the problem with government is government. Republicans have spent 46 years doing everything they can to make those words true. Decades of defunding, deficit spending, deregulation, privatization, etc all to pillage and make profit from things that should never have a profit motive. Be it water, electricity, security, healthcare, education, etc none of that should have a profit motive. It should all be run by the people for the people to make a better, more stable, and more prosperous society for all — not just the few.
If we can afford to go to war with a country every other week, we can afford to fund the damn mailman
Right before midterms, right?
Who could have predicted the guy who was heavily invested in private companies like Fed Ex and UPS would destroy USPS, that didn’t cost a dime of tax dollars and was one of this country’s greatest institutions since the 1700s.
Buying stamps and sending stuff via usps is fundamentally American.
Eject this idiot. The current shambolic ‘administration’ can’t end soon enough.
We need a real Post Office. A public service available to all. One that is not required to show a profit, but is instead focused on a single job of moving mail.
We used to have a postal system that was the envy of the world.
Now, like everything else, it’s being destroyed by the GOP because they think everything should be private.
GOP, wants to break the government programs
Wow it sounds like you’re not very good at your job (but very good at your secret evil job)
One thing that people don’t realize is that the United States has some of the cheapest first-class mail in the world. A domestic letter in the Netherlands costs about 1.2 euros, which is about $1.30. a domestic letter within the United States, which is a huge area, costs about $0.80. A first class domestic letter in the UK would cost the equivalent of a $2.25.
I do not understand why people complain about the US postal service as though it were inefficient. Especially considering that it has to provide service to far-flung rural addresses without a surcharge.
Also just trying to spread this bullshit since carriers contract is up for negotiation.
This guy is complete scum
Government services should not provide a direct profit to the government. The US military just costs hundreds of billions with no direct profit to the US government why should any other investment be required toncreat a profit? Government spending helps local economies and provides jobs and devices that reduce the cost and barriers to business.
The postal service provided equal service to everyone. Fedex will give massive discounts to large shippers, giving larger firms a competitive advantage over smaller firma.
Fuck this country, and fuck these conservative bastards. All these corrupt fucks deserve a deep dark place in hell. This shouldn’t be happening, this is such bullshit.
It’s a service, fucking fund it instead of blowing up innocent girls in Iran.
The Republicans wanted this forever, and they are evil for destroying a great institution.
So fund it. We can spend $10 billion on Trump suing the IRS, we can fund the postal service.
Every decision made seems to be engineered to make usps fail.
Don’t forget the underlying racist motivations:
>Postal jobs have long been a road to the middle-class for Black Americans. The Postal Service began employing Black workers shortly after the Civil War and became a major source of good, middle-class jobs for this share of the workforce in the early 20th century.
>In 2022, Black workers made up 29.0 percent of the Postal Service workforce — more than double their 12.6 percent share of the total U.S. labor force. According to Institute for Policy Studies analysis of Bureau of Labor Statistics data, postal workers have by far the highest median annual wage ($51,730) and the highest median hourly wage ($24.87) among the 10 occupations with the heaviest representation of Black workers.
https://inequality.org/article/postal-service-jobs-black-workers/
Hear me out, wave 26′, wave 28′, defund ICE and build the USPS back up to glory. Run on it!