THE U.S. Postal Service comes under scrutiny all too frequently for its financial shortcomings. The nation’s mail mover has become synonymous with red ink.
We must commend the Postal Service, however, for its decision Tuesday. Postal officials have opted to delay the closing of 252 mail processing centers and 3,700 local post offices until mid-May. It is likely several local post offices would be targets for closure in that scenario.
Such news is an early Christmas present to some 100,000 postal employees throughout the nation, albeit possibly just a temporary reprieve. Postal workers and customers alike can breath a little easier for the time being.
The closings were planned in order to deal with a projected $14.1 billion shortcoming in 2012. The Postal Service is expected to default on a $5.5 billion payment to the U.S. Treasury Friday.
Such staggering debt definitely needs addressed. A definitive game plan should be scripted and enacted to slow, if not eliminate, the surging flow of red ink.
The Postal Service’s opting to delay the far-reaching cuts enables cooler heads to prevail and develop a course of action with Congressional leaders help to steer clear of potential bankruptcy. Such an eventuality would be a financial tragedy.
The delay also means first-class mail will not be slowed until mid-May. When the change occurs, it will eliminate the possibility that stamped letters will arrive the next day for the first time in 40 years.
The U.S. Postal Service’s solvency is crucial to the well-being of the nation.
The federal government has bailed out banks and the car industry, it needs to go the extra mile for the Postal Service.