The Postal Service quarterly financial report this week revealed, for the first time in several years, a modest net gain. The surprising results have left many scratching their heads and some have even described the outcome as a “moment of celebration.”
However, a closer look at the Postal Service’s fiscal record over the past several years would suggest that there is little room for rejoicing. Truth be told, the USPS has lost more than a billion dollars annually during the last 14 consecutive years, and in 2020, USPS was $9.2 billion in the red. So, in reality, it would be sensible to not jump to conclusions about the meaning behind a modest three-month profit.
You can read this entire op-ed in the Federal Times.