Feb. 16, 2012
WASHINGTON – Today, Sen. Tom Carper (D-Del.), chairman of the Senate subcommittee that oversees the U.S. Postal Service, released the following reaction to the announcement of the U.S. Postal Service’s most recent business plan:
“Today the U.S. Postal Service provided members of Congress with an updated version of its business plan – including revised financial statements and projected future losses – that painted a disturbing, but unfortunately all too familiar, picture of the Postal Service’s bleak financial outlook. This comes a week after the Postal Service announced that it had lost $3.3 billion in the first quarter of fiscal year 2012 – traditionally the most profitable time of year for the Postal Service.
“The picture here is perfectly clear – unless Congress acts quickly and significantly to provide the Postal Service with the tools and resources it needs to modernize its business model, this American institution will be insolvent within months. This is a dire situation, but it is not hopeless. We can save the Postal Service for future generations – and without further burdening taxpayers – if we act decisively and strategically.
“Make no mistake, the Postal Service’s financial situation is very grim and growing worse by the day. Any responsible and effective solution will require shared sacrifice from Postal customers, Postal management and Postal employees. We can’t simply nibble around the edges if we want the Postal Service to survive – we have to move forward with significant reforms. I am committed to working with my colleagues to move forward in the coming weeks with comprehensive, bipartisan legislation to provide the freedom and the flexibility the Postal Service needs to survive and ultimately thrive in the 21st Century. Given the current financial outlook of the Postal Service, it is abundantly clear that we haven’t a moment to waste in this important effort.”