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I think thats wrong.
"The agency’s biggest problem — and the majority of the red ink in 2012 — was not due to reduced mail flow but rather to mounting mandatory costs for future retiree health benefits, which made up $11.1 billion of the losses. Without that and other related labor expenses, the mail agency sustained an operating loss of $2.4 billion, lower than the previous year.

The health payments are a requirement imposed by Congress in 2006 that the post office set aside $55 billion in an account to cover future medical costs for retirees. The idea was to put $5.5 billion a year into the account for 10 years. That’s $5.5 billion the post office doesn’t have.

No other government agency is required to make such a payment for future medical benefits."

This is the immediate problem and one that was brought on by Congress. it's an unusually tough mandate for them.
From a business perspective they've done whats expected of them:
"Since 2006, it has cut annual costs by about $15 billion, reduced the size of its career workforce by 193,000 or by 28 percent, and has consolidated more than 200 mail processing locations, officials say."

Thats a good job IMHO.
The mail system though is antiquated and has outlived its usefulness. The problem is - it's mandated by the Constitution and many people in rural America depend on it - as do MOST businesses.
I would propose the following: In major metro areas 3 day per week delivery with parcels service 6 days per week. In rural areas I wold probably continue with 5 day per week delivery.
If that doesn't cut costs enough I'd revert back to pick up service only - at either stores or postal centers with NO DELIVERY of private mail.
I would also raise the price of a stamp to $1 each to discourage using the service or at least make it profitable for the USPS.
If this were truly a private enterprise they would be looking at cutting cots (which USPS did, and is doing) and raising rates.......

Vog

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