Sen. Carper Statement on Most Recent U.S. Postal Service Financial Losses

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 that the U.S. Postal Service lost $3.1 billion this quarter:

“While today’s announcement that the U.S. Postal Service lost $3.1 billion in the last three months is disappointing, it does not come as a surprise. Our troubled economy – coupled with the continued migration to electronic forms of communication – is putting the future of the Postal Service in jeopardy, and it’s happening faster than expected. Putting the Postal Service back on stronger financial footing is something I’ve been trying to do for a long time now, and my comprehensive postal reform bill takes the necessary steps to help keep the Postal Service solvent.

“My bill, the Postal Operations Sustainment and Transformation (POST) Act of 2011, would give the Postal Service the room it needs to manage itself and avoid becoming the latest victim of Congressional gridlock. It would also address the Postal Service’s massive overpayments to the older Civil Service Retirement System and would ensure that the Postal Service has the resources it needs to meet its future retiree health care obligations. My bill requires all parties – postal management, employees and customers – to make sacrifices. It also gets Congress out of the way by providing the flexibility and tools necessary to address the problems plaguing the Postal Service in an effective way.

“The U.S. Postal Service is sinking quickly, and if we do nothing, we face a future without the valuable services the Postal Service provides. We have the opportunity to keep it afloat, but we must act now. I urge Congress and the Administration to join me in pushing for this much-needed reform so we can prevent the Postal Service from going broke by the end of the year.”