From WSJOpinion: The post office is meant to be self-sufficient, but it hasn’t broken even for years. Democrats cry sabotage, but it’s a Blockbuster service in a Netflix world.
That red ink is no fluke of circumstance. The post office is meant to be self-sufficient, but it hasn’t broken even for years. Total losses since 2007 run to $78 billion, according to
by the Government Accountability Office, which said that the “USPS’s current business model is not financially sustainable.” It’s a Blockbuster service in a Netflix world., at 213 billion pieces. As of last year, it was down 33%. More than half of what remains is “marketing mail.” Maybe you noticed while searching for a birthday card amid the real-estate fliers.
: Customer visits fell from 1.06 billion in 2010 to 812 million last year, down 23%. Yet total retail offices dropped 4%, to 34,613. The USPS’s package-delivery business is growing, but it can’t make up the difference.A misalignment like this wouldn’t last in private business, but the Postal Service answers to politicians. The USPS has a monopoly on letter service, plus exclusive access to your mailbox.
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