Going Postal - An Overhaul for USPS
Sunday, December 31st, 2006During this holiday season, we relied on the Postal Service for mailing and receiving packages and holiday cards to friends and loved ones, yet many of us take for granted what a pillar this institution is to the American economy.
The U.S. Postal Service is the lynchpin of a $900 billion mailing industry, providing nine million jobs nationwide. These jobs are in diverse fields ranging from direct mailing, printing, and catalog companies such as L.L. Bean - in my home state of Maine - to paper manufacturing, and financial services.
In addition to the huge number of jobs that depend on a financially strong Postal Service, individuals and families living in rural communities throughout the nation rely on its universal service. Families living in our small, rural communities should have the same access to the postal services as those living in our cities. If the Postal Service were no longer able to provide service to every customer, the affordable communications link upon which many Americans rely would be jeopardized. And most commercial businesses would find it uneconomical, if not impossible, to deliver mail and packages at affordable rates to every address.
But under its current business model, which has not been updated in three decades, the financial future of the Postal Service was not viable. There are many reasons why modernizing the Postal Service is so critical to the health of this institution. The Government Accountability Office has described the current financial situation of the Postal Service as a “death spiral.â€? Read the rest of this entry »

