Is The Usps In Debt

The mandate to prepay employees retirement and.

Is the usps in debt. As planned the Postal Service reduced its debt level during 2019 by 22 billion finishing the year with 110 billion in debt outstanding. Sixth the Treasury should forgive the USPS present debt which is around 10 billion. He added USPS currently has the most cash on hand in its history approx 15 billion Thats a lot of cash on hand and a bold claim so we decided to follow the money.

By the end of the decade the semi-independent government agency s losses had reached a record 85 billion forcing the Postal Service to consider seeking an increase in its 15 billion debt ceiling or face insolvency. Which begs the question. The United States Postal Service will play a critical role in the 2020 election.

At the end of 2019 the GAO calculated that the Postal Service had 1609 billion in debt 1193 billion of which came from retiree benefits. Whats going on at the Post Office. The USPS is not in debt.

August 11 2020 0247 PM. Controllable loss for the year was 34 billion an increase of 15 billion compared to the prior year. The Postal Services 15 billion debt is a direct result of the mandate that it must pay about 56 billion a year for 10 years to prefund the retiree healthcare plan.

Of all federal employees only the the post office and the national parks pre-fund retirement. Just wipe the books clean because paying these debts is draining the Post Offices cash which should be. When most people think of the Postal Service they think of letters from grandma or junk mail.

Why the USPS is deep in debt and what it means for our election. Critics frequently cite it as a hallmark of government inefficiency. When most people think of the Postal Service they think of letters from grandma or junk mail.