The U.S. Postal Service's Financial Condition: A Primer
Description
This report discusses the significant financial challenges facing the U.S. Postal Service (USPS). After running modest profits from FY2003 through FY2006, the USPS lost $45.6 billion between FY2007 and FY2013. Since FY2011, the USPS has defaulted on $16.7 billion in payments to its Retiree Health Benefits Fund (RHBF). The agency reached its $15 billion borrowing limit in FY2012 and did not reduce its total debt in FY2013. In October 2012, the USPS bolstered its liquidity by withdrawing all of the cash from its competitive products fund. This fund has not been replenished since that time.
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Description
This report discusses the significant financial challenges facing the U.S. Postal Service (USPS). After running modest profits from FY2003 through FY2006, the USPS lost $45.6 billion between FY2007 and FY2013. Since FY2011, the USPS has defaulted on $16.7 billion in payments to its Retiree Health Benefits Fund (RHBF). The agency reached its $15 billion borrowing limit in FY2012 and did not reduce its total debt in FY2013. In October 2012, the USPS bolstered its liquidity by withdrawing all of the cash from its competitive products fund. This fund has not been replenished since that time.
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Congressional Research Service Reports
The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.
Richardson, Daniel J.The U.S. Postal Service's Financial Condition: A Primer,
report,
September 22, 2014;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metadc463322/:
accessed March 28, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.