Postmaster General Patrick Donahoe released a statement Thursday criticizing Congress for what he calls their "inaction" in passing postal reform legislation. Donahoe says more aggressive cost cutting and adding more revenue generating measures will be considered as a result.
Donahoe says the fiscal outlook for the U.S. Postal Service appears more dire than promising. He says the Postal Service is losing $25 million each day, it's defaulted on more than $11 billion in payments to the U.S. Treasury - and the organization has exhausted its borrowing authority.
Donahoe says the Postal Service should not have to do business this way, and called for legislative action.
Over the past two years, the postmaster general says USPS has reduced its workforce by 60,000, made modifications to its business plan and consolidated its mail processing facilities. The $800 billion mailing industry the USPS serves has seen package volume increases, and while struggling financially, the organization has recently introduced a same-day delivery service.