No shock here, government agency losing hundreds of millions of dollars every quarter. Of course this demonstrates just how stupid and incompetent the government is. They have a monopoly on mail delivery and they still can’t turn a profit, let alone break-even. The funniest part is that this article describing the coming default of the USPS claims that the USPS doesn’t take any taxpayer money after admitting that the USPS is cash flow negative. So if they’re losing hundreds of millions every quarter and not taking any taxpayer money, who is making up the difference? Lets see what Wikipedia has to say about the USPS.
“Since its reorganization into an independent organization, the USPS has become self-sufficient and has not directly received taxpayer-dollars since the early 1980s with the minor exception of subsidies for costs associated with the disabled and overseas voters. However, it is currently borrowing money from the U.S. Treasury to pay its deficits.”