Read the following news story and then read about Lysander Spooner’s American Letter Mail Company. The free market can always do it better, otherwise the government wouldn’t have to force us to use their service as we would gladly pay for it voluntarily. If you think this is bad, just wait for government health care.
Post Office reports loss, may cut Saturday service
Agency continues to lose money despite $6 billion in cost-cutting measures, and proposes that it drop Saturday delivery.
By Hibah Yousuf, CNNMoney.com staff reporter
Last Updated: November 16, 2009: 5:58 PM ET
NEW YORK (CNNMoney.com) — The U.S. Postal Service reported a $3.8 billion loss in the 2009 fiscal year, and plans to propose to Congress in 2010 that it drop Saturday delivery.
The agency already reduced expenses by $6 billion during the year ended Sept. 30.
Those measures included eliminating 40,000 jobs, however the cash-strapped agency still employs over 712,000 people. The Postal Service also reduced overtime hours and lowered transportation-related costs.
Additionally, the USPS lowered the payments it made for retiree health benefits by $4 billion in fiscal 2009.
“To say this was a difficult year might be a bit of an understatement,” said the USPS chief financial officer Joseph Corbett, on a conference call with the media. Corbett blamed the agency’s difficulties on the recession and “the continued migration [of customers] to electronic means.”