Post Office Has Boom Year, Loses More Money Than Ever

Read more on this subject: United States Postal Service
News Story Source: https://fee.org, Craig Eyermann
For the US government's 2018 fiscal year, the US Postal Service reports that it successfully boosted its annual revenue by $1 billion over the previous year to $70.7 billion, marking a boom year for its mail and package delivery services. Unfortunately, it also spent about $3.9 billion more to provide those services than it took in during the year, a $1.2 billion increase over the loss it recorded in its 2017 fiscal year.

If that doesn't sound like a success, that's because it isn't, which is why the editors of Investor's Business Daily are calling for the nation's postal service to be privatized:

By its own admission, the post office is doomed. Buried deep in its 10-k government filing is this bleak statement: "Existing laws and regulations limit our ability to introduce new products or services, enter new markets, generate new revenue streams or manage our cost structure," it said. Imagine a private company telling
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