Should the US Government save the Postal Service?
On May 9, 2020 New Jersey Lawyer and Bianchi Law Group partner, Robert (Bob) Bianchi was involved in an opinion panel on Chasing News with Bill Spadea. In this episode, the topic of discussion centered around the financial turmoil of the US Postal Service.
A report from the Government Accountability Office detailed some reasons why the USPS is struggling. A sharp decline in first-class mailings increased pension and salary spending, and increasing debt are among the reasons the report claims the postal service is heading for financial failure.
This same report calls on Congress to act in saving the postal service from financial ruin. This, of course, poses a big question; should the government get involved in saving USPS?
Bob Bianchi weighed in on the discussion by pointing out the strain the postal service feels is in its requirement to provide pensions. He also noted that advertising is one of the main sources of revenue for the postal service. This, Bianchi says, has been yet another casualty of the chaos of coronavirus. Like any other company that relies on customers getting out and using their services, USPS has struggled even more as of late due to the Covid-19 pandemic.
One thing seems certain, with a presidential election looming in just a few short months, and a global pandemic making it more challenging for many to vote, mail-in ballots have become a hot-button issue. What the government does, or doesn’t do, to save the postal service, could have an impact come November.