It’s vital the U.S. Postal Service is not allowed to fail.
Is the U.S. Post Office, enshrined in the Constitution, really about to go bust?
The Post Office is in financial dire straits, yes. It is also true that they’ve been under tremendous financial strain before and received help from Congress. So what’s happening now? Let’s go through a quick rundown.
Why is the Post Office in trouble?
The Post Office is in trouble because the coronavirus has sharply curtailed how much mail is being sent by businesses. Late last week Postmaster General Megan Brennan informed Congress of the dire situation. Rep. Gerry Connolly (D-VA), the chairman of the subcommittee that oversees the Post Office said this after their briefing, “[T]he pandemic has completely changed the environment here. The mail volume drop is catastrophic.” Just last week, the drop in mail volume was around 30%, and it is expected to get as high as 50% as the pandemic wears on.
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