USPS Going Broke, Appeals To Congress
The U.S. Postal Service (USPS) is going broke, facing an ever-growing $9.2 billion deficit that may shut the agency down completely next summer. USPS spokesman Dave Partenheimer told ABCNews.com Monday.
"Right now we think we can make it through until next summer most likely but then some hard choices will have to be made," he said, as reported by ABC. "That's why it's such an urgent crisis."
The USPS, which will have reached its borrowing limit of $15 billion by the end of its fiscal year September 30, is asking Congress to restructure their health care and retirement systems in order to make them more independent from the federal government, ABC News reports.
"Something we desperately need is action from Congress to operate more like a business," Partenheimer told ABC News. "That's why we're looking at other proposals to save us money."
The USPS is considering several revenue-boosting measures including gaining the right to deliver wine and beer, placing commercial advertisements on postal trucks and in post offices, and offering more hand-delivery services, the New York Times reports.
Partenheimer told ABC News the agency is also asking for Congressional permission to move to 5-day delivery.
"That would save us $3.1 billion," he said.
In the meantime, USPS continues to cut costs, ABC News reports.
"We've reduced costs by more than $12 billion in the last four years and cut our career workforce by 110,000 in past four years," Partenheimer told ABC News.