The United States Postal Service has reported a $5.1 billion loss for the 2015 fiscal year.
The Postal Service has reported its ninth consecutive year in the red with loses totaling $5.1 billion. However, with a $1.1 billion increase in revenue from 2014 and a good operating profit, some are praising the USPS as a fiscal success hindered by government.
"The red ink you hear about has nothing to do with the mail but rather with congressional politics,” National Association of Letters Carriers president Frederic Rolando told the Federal Times.
Following legislation passed in 2006, the Postal Service is required to pre-fund 75 years’ worth of health benefits for its workers – an expensive policy often criticized for being the only one of its kind.
“No other entity, public or private, is required to do this for even one year in advance,” Mr. Rolando said to the Federal Times.