The US Postal Service may be able to drive up the national rate of unemployment all on its own. The USPS will offer 30,000 workers buyouts. It has 650,000 workers, so that number is not as significant as it may seem at first.
The Postal Service expects to lose $7 billion this fiscal year. It believes that the buyouts could save $500 million, which is not nearly enough to solve its financial problems.
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The radical cuts that the Postal Service will need to make are almost certainly going to have to be done in the next year. That could involve cutting service back from six days a week to four or five. It may also mean that mail delivery in rural areas, which are harder for the USPS to serve, could be cut even further.
Mail is becoming an anachronism and that means the USPS, as America has known it, will be gone soon. Many people will not even miss it.
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Executive Producer: Philip MacDonald
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