CNNMoney.com | Aaron Smith | Losses double for U.S. Postal ServiceLook, maybe we need to subsidize mail, and maybe we don't. Maybe we need a government mail monopoly, and maybe we don't. Maybe operations could be contracted out, and maybe they can't. I'm open to having all those discussions.
New York -- The U.S. Postal Service more than doubled its losses in fiscal year 2010, despite cutting billions of dollars in expenses and trimming its staff.
The Postal Service said its net loss totaled $8.5 billion in the fiscal year that ended Sept. 30. That compares to a loss of $3.8 billion the prior year.
But please, please, let's not pretend that the USPS does a good job, or is efficient, or is a good example of a government-run enterprise. They are downright terrible at getting mail from here to there. Terrible. And they have no meaningful plans to improve. They are a perpetual black hole of taxpayers' dollars.
See my previous posts about the Postal Service if you care: USPS; USPS: Please steal this idea; Postal; More about Mail: I can only presume Ezra Klein considers the Delorean DMC-12 a success; Universality.