WASHINGTON – Today, Sen. Tom Carper (D-Del.), chairman of the Senate subcommittee that oversees the U.S. Postal Service, released the following reaction to the announcement that the U.S. Postal Service lost $3.3 billion in the first quarter of fiscal year 2012:
“While today’s announcement that the U.S. Postal Service lost $3.3 billion in the first quarter of fiscal year 2012 is disappointing, it unfortunately does not come as a surprise. While the magnitude of the losses themselves is bad enough, the fact that they came during a period of the year that is usually the most successful for the Postal Service is truly shocking. The Postal Service has reiterated that if nothing is done, it could be insolvent by fall 2012.
“Our troubled economy – coupled with the continued migration to electronic forms of communication – is putting the future of the Postal Service in jeopardy, and today’s news shows that it’s happening faster than expected. I have been saying for some time now that Congress needs to come together on a plan that can save the Postal Service and protect the more than eight million jobs that rely on it. The bipartisan 21st Century Postal Service Act (S.1789) strives to help the Postal Service adjust its operations to reflect the changing demand for its products and services while also giving it tools that can help it be successful in the 21st century. This bill – the only bipartisan proposal from Members in either Chamber – presents a comprehensive solution to the Postal Service’s financial challenges. If we do nothing, our nation could face a future without a Postal Service.
“While the situation facing the Postal Service is dire, it is not hopeless. That is why we need to pass this bipartisan and comprehensive bill as soon as possible. It is my hope that Congress and the Administration can come together on this plan in order to save the Postal Service before it’s too late.”