Postal Service’s $15.9-Billion Loss Highlights Urgent Need for Legislative Reform

At the end of 2012 fiscal year the Postal Service reached its statutory debt ceiling of $15 billion for the first time.

“Our liquidity continues to be a major concern and underscores the need for passage of legislation that gives the Postal Service a more flexible business model to improve its cash flow,” noted Corbett. “Despite reaching the debt limit, the Postal Service mail operations and delivery continue as usual and employees and suppliers continue to be paid on-time.”