Posted on May 1, 2021
Roughly 40% Of Post Offices Operate In The Red. Could Banking Offer Them A Way Out?
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America has a lot of post offices — over 31,000 in fact. Most sell enough stamps and other services to cover their costs, but many, especially those in rural areas, do not.
Some 42% of the nation's post offices were underwater in 2019, not generating enough revenue to cover their expenses, according to a report released last month by the U.S. Postal Service inspector general. Half of those that didn't cover their costs are within 5 miles of another post office.
So, are there too many post offices?
"The short answer is no," says Paul Steidler, a senior fellow at the right-leaning Lexington Institute who studies the U.S. Postal Service. He says the agency looked at the issue a decade ago.
"Patrick Donahoe, the postmaster general at the time, proposed closing 3,700 post offices, about 12% of the number that are in the country today. And frankly, there was a firestorm of bipartisan, intense congressional opposition to this."
Some 42% of the nation's post offices were underwater in 2019, not generating enough revenue to cover their expenses, according to a report released last month by the U.S. Postal Service inspector general. Half of those that didn't cover their costs are within 5 miles of another post office.
So, are there too many post offices?
"The short answer is no," says Paul Steidler, a senior fellow at the right-leaning Lexington Institute who studies the U.S. Postal Service. He says the agency looked at the issue a decade ago.
"Patrick Donahoe, the postmaster general at the time, proposed closing 3,700 post offices, about 12% of the number that are in the country today. And frankly, there was a firestorm of bipartisan, intense congressional opposition to this."
Roughly 40% Of Post Offices Operate In The Red. Could Banking Offer Them A Way Out?
Posted from npr.org
USPS
Banking
Congress
Posted >1 y ago
Responses: 3
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We are a service to the American public, and are supposed to break even. Current PMG DeJoy is bent on destroying the whole USPS by delaying mail, raising prices, removing collection boxes and sorting machines. And stop using domestic flights to transport mail - truck transport only. Ben Franklin is rolling over in his grave I'm sure!
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Maybe they could consider not having a police program focused on reading people's social media.
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