Postal Service made a profit in FY 2013
The United States Postal Service reported an operating profit of $600 million for the just-completed 2013 fiscal year — without a dime of taxpayer money. USPS earns its revenue by selling stamps. This shows the Postal Service is positioned for a strong comeback if lawmakers act sensibly by addressing the pre-funding fiasco they created and by freeing the Postal Service to use its universal retail and delivery networks to innovate and grow.
USPS, which provides Americans and their businesses with the industrial world’s most affordable delivery network, is headed in the right direction.
Yet, the pre-funding mandate continues to drag it down. In 2006, Congress mandated the Postal Service pre-fund future retiree health care for the next 75 years and pay for it in a 10-year period. This annual $5.5 billion charge accounts for more than 80 percent of all the postal red ink you hear about — and 100 percent in 2013! No other agency or company is required to pre-fund for even one year.
Rather than cut services that American homes and businesses rely on, such as Saturday and door-to-door delivery, Congress should eliminate the manufactured pre-funding crisis. Lawmakers who advocate a slash-and-shrink approach would destroy an agency that is older than the country itself, is rooted in the Constitution, supports 7.5 million private-sector jobs, and is critical to our economy.
Please tell your representative to preserve the Postal Service by ending pre-funding. Congress created this crisis, and Congress can fix it.