Senator Tom Carper reacted yesterday to the US Postal Service’s quarterly financial report by breaking out the cliches. Carper said that the $754 million “loss” the USPS reported was proof that the agency is in a “downward financial spiral”, even though the “loss” was entirely due to the 2006 PAEA law that Carper backed, and that he claimed at the time would solve the postal service’s financial problems. (Carper’s press release actually refers to a $754 billion loss!).
Carper’s statement ignores the fact that without the PAEA accounting entries, the USPS actually made a $1.1 billion profit from operations, and that the “loss” exists only on paper. It also fails to mention Carper’s own role in causing the “loss”:
WASHINGTON – Today, Senator Tom Carper (D-Del.), ranking member of the Homeland Security and Governmental Affairs Committee, released the following reaction to the announcement that the U.S. Postal Service lost $754 billion [sic] in the first quarter of fiscal year 2015:
“Today’s financial report shows that even a prosperous package delivery service and record holiday delivery season can’t bring the U.S. Postal Service out of its downward financial spiral. The hard reality is that the Postal Service continues to suffer unsustainable losses that threaten its long-term viability and is unable to raise enough revenue to cover its costs. While Postal Service leadership has done what it can to cut costs, keep prices competitive, and right-size the enterprise, the ailing agency needs comprehensive postal reform. It is critical that Congress works together to pass a bipartisan and comprehensive bill as soon as possible. This news should underscore that sense of urgency. I look forward to working with my colleagues to build on the significant progress Dr. Coburn and I made on postal reform last Congress and renew our efforts to fix the serious, but solvable challenges facing the Postal Service.”
With friends like Tom Carper, you almost get nostalgic for Darrell Issa!