At this stage, even the Postal Service admits it needs help.
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It might feel like first-class postage is going up every few weeks, but the U.S. Postal Service nevertheless is in need of a bailout.
Frank Todisco, chief actuary for the Government Accountability Office, told a House committee last week that the agency had $100 billion in debt and unfunded health benefit liabilities at the end of the last fiscal year.
“Despite our efforts and our hard work, we cannot return the organization to profitability or secure our long term financial outlook without the passage of comprehensive reform legislation,” Jeffrey Williamson, United States Postal Service executive vice president, told the House Oversight and Government Reform Committee recently.