Under siege from Trump, US Postal Service finds surprising financial upside in pandemic

[Yo_Mama_Been_Loggin]

A tidal wave of packages is keeping the U.S. Postal Service afloat during the coronavirus recession, boosting the beleaguered agency’s finances to near pre-pandemic levels while legislators and the White House joust over its independence.

When the pandemic’s resulting economic shutdown took hold in early spring, postal leaders told lawmakers the mail service expected to hemorrhage $2 billion a month for 18 months, risking insolvency as soon as September. After Congress approved an emergency $10 billion loan from the Treasury Department, the agency said it could hold out until March 2021, but it’s avoided accessing those funds, wary of conditions the Trump administration is poised to impose in exchange.

Postal leaders, however, in revised financial data provided this week to Congress and obtained by The Washington Post, said rising e-commerce transactions may have — at least temporarily — delivered the USPS from imminent financial ruin. Week to week, package deliveries increased 20 to 50 percent in April compared with the year-ago period, and 60 to 80 percent in May.

The report came in response to a request from Sen. Ron Johnson (R-Wis.) for a revised financial forecast after the agency outperformed dire expectations at the start of the pandemic. The response measures the 13-week period from March 16 to June 13.

https://www.msn.com/en-us/money/companies/under-siege-from-trump-us-postal-service-finds-surprising-financial-upside-in-pandemic/ar-BB15YlcS?li=BBnb7Kz

[tanyev]

1. Plus there's all those stamps I bought.

[not_the_one]

2. Me too! I think I am covered for the rest of the year.

I also refuse to get most of my bills by email.

For a few, electronic is the only option. But for the rest, a paper bill, using the USPS, is required. The one caveat is that I PAY my bills directly from my bank account. Less likely to be late, and I have a record printed of the payment.

We have to make sure the USPS is not "privatized", and we must make sure that ALL vote-by-mail ballots are NOT tainted by the turd's new postmaster general. If there is a way for him to do so, he will.

[customerserviceguy]

3. Do you

sign the checks you mail back to pay your bills with a quill pen, too?

Just kidding, of course. Using mail to get and pay bills is going away, no matter what. I find it incredibly convenient, and a good way to avoid getting hit with late charges.

[tanyev]

5. Damn straight.

Pluck it fresh off one of my geese, carve it down myself, and dip it in India ink.

[customerserviceguy]

6. The Amish would salute you

if they somehow were aware of this post.

[Traildogbob]

11. I am with you.

I have no plans to give my account numbers out for business to have direct access. We are primed to have accounts electronically drained. Never been late on a bill. I write my checks and put on the stamp. So damn “exhausting” I know, but most Postal people are vets. Glad to contribute. My Mortgage has been passed around financial companies like a teenage pageant winner at a trump rally. Think I trust those asshole banking thieves with my account number. Hell no! Write a check, support a vet.

[Traildogbob]

13. Not you

Customer service, I with the check paying dinosaurs.
Not too azy to write and pay my bills by hand. Cypher world is getting less and less secure. I actually love doing the math. But, not criticizing your way, just not for me. Many many seniors can’t even get internet or afford computers and net fees. They get their SS, life saving meds, and retirement checks by mail, if so fortunate. As do hundreds of thousands of home bound disabled vets.

[tanyev]

28. I hear you.

[Laelth]

7. Yes. It's essential that the USPS remain public.

When we launch the public “Citizens Bank of the United States,” it will be operated out of our Post Offices. I look forward to that.

-Laelth

[blogslut]

4. Me three!

I got frog stamps and dragon stamps

[The Velveteen Ocelot]

8. I got T.rex, frog, and tiger stamps.

[mercuryblues]

30. You got the T-rex. too. LOL

I added in Christmas, Star trek and Woodstock. All of them are gone So I just went out and got a roll of Forever stamps.

I feel like I'm keeping them afloat by myself.

[ananda]

16. Same here: stamps and envelopes.

nt

[Lucky Luciano]

21. Trouble for me is that buying 10 stamps probably covers...

...covers me for the next 5 years.

[tanyev]

25. Yep. Unfortunately they'll see a bubble of revenue from everyone loading up

on stamps, followed by a lengthy period of very low stamp sales. My supply is going to last awhile, too. Thank goodness they finally started doing Forever stamps. It was so annoying to have to go buy one or two cent stamps whenever the price went up.

[marie999]

9. The post office delivers over 1 billion prescriptions a year.

The VA mails their prescriptions. If the post office didn't do it, it would cost the VA more to FedEx them or use UPS. Or veterans would have to have them filled at pharmacies at a higher price for the VA. This would take away money from the VA that they need to pay doctors, nurses, and technicians. As of now, the VA needs to hire an additional 40,000 healthcare workers to keep up with the demand. Congress and the president don't mind sending people to war, they just don't want to help them when they get out. The VA healthcare system is the largest in this country.

[DanieRains]

10. I Bought A Bunch Of Forever Stamps That I Haven't Used

I will use them someday....

[Salviati]

12. Likewise. I still have a bunch of forever stamps that I have had for a while...

... but picked up some JFK and Moon Landing stamps to boot.

[kimbutgar]

14. I still write the majority of my bills by check as I do not like corporations having my bank

Numbers. but I still have a few direct set up for life insurance payments and att.

I don’t mind writing those checks and keeping tabs on my money. I also check my checking account almost everyday To check for unusual activity.

[Kali]

23. psst

your bank numbers are printed on your checks.

[kimbutgar]

24. Yes but they are not online and hackable like if I had an auto payment.

I worked in a check processing center for a large bank years and internally they were less hackable than auto debits. We used to get calls from customers saying their accounts were debited twice in the auto debits.

[demigoddess]

15. I guess I should keep ordering books etc, from ebay!

[paleotn]

17. Hang on, baby. Helps coming.

I hope. Inshallah. God willing and the creeks don't rise.

[katmondoo]

18. I love the Post Office, sometimes I write on my bill "I love the post office" paper only for me.

[thesquanderer]

19. Look at that, it turns out they actually MAKE money when delivering for Amazon.

Go figure.

[Bengus81]

20. Quick Trump!!!! BAN the USPS from handling parcels

[zeusdogmom]

22. Use the stamps - write a letter to someone

Even dropping a note to someone locally will lift their day.

Think about it - when was the last time you got a handwritten note? I have a stash of pretty paper, a couple of good pens and I try to write to someone everyday.

Or - write to your congress critter. You can tell him or her what a good job they are doing or you can tell them something else. Just be somewhat polite. 😁. Or we can tell all of them how important the post office is.

[Dark n Stormy Knight]

27. A handwritten communication from a friend or family member

is a rare treat. At least, that's how I feel. Even if it's not a decorative card or written on fancy paper, there's something lovely about it.

Not sure most others appreciate it, though.

Are kids even learning penmanship (either print or cursive) in school anymore? Just like some can't read cursive writing now, is the day coming when few can read any sort of handwriting except print that very closely resembles a common computer font?

[Demovictory9]

26. i just picked up my packages from po

[Skittles]

29. I did my part

I was inclined to not want to go to the post office to mail some packages (because of coronavirus) but I wanted to help so I took the precautions and went anyways. USPS has always been there for me and I will have their back!

[Cha]

31. I wondered about that.. when I read they thought

they would be losing money bc of the CV.. I didn't understand it. I thought people would be ordering more online so they didn't have to go to the stores. And, it needs to be delivered.. mostly through the USPS.

I know I have!