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Tipsheet

US Post Office Lost $8.5 Billion Last Year

The red ink was even darker than expected.  It gets worse:  Without some form of "Congressional action" (read: bailout), the USPS projects it will hemorrhage $238 Billion over ten years, and could go bankrupt by the end of 2011.
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The "problem" is that with the advent of email, people simply don't send snail mail at nearly the rate they used to.  A Democratic Congress might look at this problem and decide it's essential that the US Government intervene and prop up the Post Office's shrinking and outmoded business model.  Hopefully a Republican Congress won't make that mistake.


Parting thought:  Didn't President Obama cite the US Postal Service as a positive example of how to strike a happy balance between the public and private sectors during his Obamacare push?  Yeah, he did

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