Graph of the Day for April 16, 2010

"I mean, if you think about -- if you think about it, UPS and FedEx are doing just fine, right? No, they are. It's the Post Office that's always having problems. (Laughter.)"  President Obama, on health insurance reform, August 11, 2009.

"USPS's business model is not viable due to USPS's inability to reduce costs sufficiently in response to continuing mail volume decline and revenue declines... Given its financial problems and outlook, USPS cannot support its current level of service and operation."  The Government Accountability Office.

Source:  The Government Accountability Office.

Hoven's Index for April 16, 2010

US Postal Service (USPS) decline in mail volume 2007-09:  36 billion pieces (17%)

USPS losses, 2007-2009:  $12 billion

USPS career workforce reductions, 2007-2009:  84,000

USPS unfunded pensions and retiree health obligations and other liabilities:  $90 billion

Potential cumulative USPS losses:  $238 billion

Employee compensation and benefits as percentage of USPS costs:  80%

Source:  The Government Accountability Office.

Graph of the Day Archive.