The obvious situation against obtaining the postoffice into banking is the fact that the USPS is terribly ineffective during the one task it really is specifically made mail that is for—delivering. Its very very very first quarter economic report for financial 12 months 2018 reported a loss in $540 million, after 12 consecutive many years of economic losings, totaling around $65 billion. That is for a federal federal government monopoly having an $18 billion advantage on comparable personal sector organizations, who all make healthier earnings. The issues are incredibly bad that the USPS has over over repeatedly tried to cut running expenses by stopping delivery, only to have Congress force them to continue saturday.
To believe that USPS could layer on the simply task of banking an incredible number of Americans is comical. Continue reading