Amazon subsidies

The Postal Service reported a net loss for the year of $3.9 billion, an increase in net loss of $1.2 billion compared to 2017. The controllable loss for the year was $2.0 billion, an increase of $1.1 billion.Similar to the last several years, the Postal Service was unable to make the $6.9 billion in payments that were due to the federal government at the end of fiscal year 2018 to pre-fund pension and health benefits for postal retirees, without putting its ability to fulfill its primary mission at undue risk.“We made the difficult decision to prioritize the maintenance of adequate liquidity to ensure the continued achievement of the Postal Service’s primary mission of providing universal postal services to the American people," said Chief Financial Officer and Executive Vice President Joseph Corbett. "Making the pre-funding payments in full or in part would have left the Postal Service with insufficient liquidity to ensure the continued achievement of our mission."

Amazon actually helps money-losing USPS, but probably not for long

“Although the USPS does have pricing flexibility within its package delivery segment, packages have not been priced with profitability in mind,” the report’s recommendations read. Without instituting price increases above the consumer price index cap the USPS has normally been tied to, the task force painted a dire future.“Under the current model, the USPS cannot survive on an operating basis, let alone pay for its long-term liabilities including its debt and unfunded retiree benefits,” the report concluded. In total, the USPS balance sheet reflects $89 billion in liabilities against $27 billion in assets, representing a net deficiency of $62 billion as of the fiscal year ended in September. A failure to offset declining revenue with cost-cutting resulted in $69 billion in losses over the past 12 years.

Get real, we have another kanosian plot to steal from the poor and give to the rich, led by Dean Baker.