The U.S. Postal Service (USPS) wants an $89 billion federal bailout that it says is necessary because of the COVID-19 crisis. But unlike formerly profitable small businesses, hospitals and even local governments, USPS’s finances were a mess for more than a decade before COVID-19 hit.
USPS’s projected near-term financial losses do not stand up to basic financial scrutiny, i.e., they do not add up. Even more troubling, USPS has not publicly documented why it needs such a large bailout, withholding from the public even the most basic information.
Read the full issue brief here.
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