The Hill reports,
The Government Accountability Office (GAO), in putting the Postal Service on its “high-risk list,” said Tuesday that the service faces a net loss of $7 billion this year and a cash shortfall of about $1 billion this year, in addition to more losses in years to come. The losses are due to the recession and a shift away from regular mail toward toward e-mail and other new technologies, the GAO said. Those factors will lead to a 13.7 percent drop in mail volume from last year, according to the GAO.
There is a very simple solution to this problem: shut down the USPS.
There is no reason for the government to be in the postal business when private industry can perform more efficiently. But as it stands, the USPS holds an unjustified monopoly on non-urgent first class mail. Its competition–UPS, FedEx and the like–is only legally permitted to deliver packages. They are prohibited from putting letters in mailboxes.
If that is not socialism, I don’t know what is.