How many ways can we say “unsustainable?” The Congress won’t fix it. They don’t have the guts to do it.
- FedEx profits more than doubled in the fiscal third quarter.
- UPS 2nd Quarter Profits: $1.1 Billion – wow!
- U.S. government postal service – bankrupt.
Interestingly, the republicans have a plan to save it but the democrats won’t do it. The unions were willing to make concessions to stop the blood letting and, again, Congress said no. Read here and here
CNS News Has the Story
The U.S. Postal Service has been losing an average of $42,335,766 per day in fiscal 2012.
On Thursday, the service reported a third quarter (April 1-June 30) net loss of $5.2 billion, bringing its fiscal year-to-date net loss to $11.6 billion.
There were 274 days in the first three quarters of fiscal 2012. Thus the Postal Service has lost, on average, $42,335,766 per day in this fiscal year.
However, those losses have not been evenly distributed over the period. In the most recent quarter, the Postal Service’s losses dramatically increased.
In the first quarter of fiscal 2012 (Oct.-Dec.), the Postal Service lost $3.3 billion. In the second quarter (Jan.-March), it lost $2.2 billion…There’s a lot more