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Postmaster General Tells Senate Committee USPS is on the Brink of Default

September 6, 2011
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“We have advanced these and other proposals to provide Congress with a range of legislative options while we aggressively do what we can within our current business model,” Donahoe said. “We need the flexibility to operate more as a business would, in order to return to sound financial footing so we can meet America’s evolving mailing and shipping needs for generations to come.

The Postmaster General’s written testimony is available online.

The Postal Service receives no tax dollars for operating expenses and relies on the sale of postage, products and services to fund its operations.

About the U.S. Postal Service
A self-supporting government enterprise, the U.S. Postal Service is the only delivery service that reaches every address in the nation, 150 million residences, businesses and Post Office Boxes. The Postal Service receives no tax dollars for operating expenses, and relies on the sale of postage, products and services to fund its operations. We’re everywhere so you can be anywhere: www.uspseverywhere.com. With 32,000 retail locations and the most frequently visited website in the federal government, usps.com, the Postal Service has annual revenue of more than $67 billion and delivers nearly 40 percent of the world’s mail.

Source: USPS.
 
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