The Post Office frequently boasts that it is self-supporting. It is required to be. But it isn’t.
Despite enjoying a legal monopoly on first-class mail — private carriers are required to charge more than twice as much as USPS to deliver a letter — and another monopoly on access to mailboxes, despite paying no taxes and being allowed to borrow $3 billion a year from the government at discounted rates, it still loses mountains of money. Projected losses are $7 billion this year, says a think-tank analyst, Don Soifer of the Lexington Institute…
Leave aside the shocking off-handedness with which the president promised to put tens of millions of Americans in a system that he himself compared to the one that “is always having problems.” The US Postal Service is characterized by monopoly, long waits, indifferent treatment of customers, dwindling services, billions in losses and expert opinion that it would work better as a private firm — exactly the list of flaws critics cite about ObamaCare.
Thanks for drawing our attention to all this, Mr. President.