USPS

U.S. Post Office Now Faces $100 Billion in Unfunded Liabilities – GAO

WASHINGTON DC. In 2008, the United States Postal Service (USPS) via the National Association of Letter Carriers, AFL-CIO union said, “USPS is funded entirely by revenues from postage.” Since 2008, USPS went from “self-sufficient” to technically bankrupt in just 4 years (Report).

USPS debt has continued to climb under President Obama’s watch. In 2012, I discussed USPS defaulted on a $5 Billion taxpayer loan and was sitting on $15 Billion in debt. The General Accountability Office (GAO) published an updated report on USPS financials which now show the U.S. Postal Service facing $100 Billion in unfunded liabilities… Read More…