Accession Number:

ADA522233

Title:

The U.S. Postal Service's Financial Condition: Overview and Issues for Congress

Descriptive Note:

Congressional rept.

Corporate Author:

LIBRARY OF CONGRESS WASHINGTON DC CONGRESSIONAL RESEARCH SERVICE

Personal Author(s):

Report Date:

2010-05-21

Pagination or Media Count:

19.0

Abstract:

This report provides an overview of the U.S. Postal Services USPSs financial condition, recent legislation to alleviate the USPSs financial challenges, and possible issues for the 111th Congress. Since 1971, the USPS has been a self-supporting government agency that covers its operating costs with revenues generated through the sales of postage and related products and services. Recently, the USPS has experienced significant financial challenges. After running modest profits from FY2004 through FY2006, the USPS lost 5.3 billion in FY2007 and 2.8 billion in FY2008. In May 2009, the USPS warned that it might experience a cash shortage at the end of September 2009. Two months later, the Government Accountability Office added the USPSs financial condition to the list of high-risk areas needing attention by the Congress and the executive branch.

Subject Categories:

  • Information Science
  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE