The U.S. Postal Service is in trouble. In a statement, the postmaster general said this is a “critical juncture in the life of the Postal Service,” and that “At a time when America needs the Postal Service more than ever, the reason we are so needed is having a devastating effect on our business.”
The agency got a $10 billion line of credit in the most recent federal stimulus package but had hoped for much more. Now it’s asking for $75 billion, with current estimates showing the coronavirus pandemic will increase the service’s net operating loss by $22 billion over the next year and a half.
Eric Katz has been following all of this. He’s a senior correspondent at Government Executive. He joined The Show to talk about just how bad are things right now for the Postal Service.
