U S Postal Service Financial Challenges Continue With Relatively Limited Results From Recent Revenue Generation Efforts

Download or read book U. S. Postal Service: Financial Challenges Continue, with Relatively Limited Results from Recent Revenue-Generation Efforts written by Phillip Herr and published by DIANE Publishing. This book was released on 2010-06 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Postal Service's (USPS) financial condition and outlook deteriorated significantly during FY 2009. USPS was not able to cut costs fast enough to offset declining mail vol. and revenues resulting from the economic downturn and changing mail use. USPS would not be able to make the $5.4 billion payment to prefund postal retiree health benefits that was due by the end of the year. This testimony: (1) updates USPS's financial condition and outlook; (2) describes changes made by the Postal Account. and Enhancement Act of 2006 that provided USPS with greater flexibility to generate revenues; (3) outlines USPS's revenue-generation actions and results using this flexibility; and (4) discusses options to generate increased revenues in the future.