You’ve got fail: Unexpectedly! US Postal Service lost 15.9 billion in FY2012

Wait, what?

That’s right. $15.9 billion. Billion.

In September, Twitchy reported that the U.S. Postal Service was going to default on a mandatory retiree benefit payment to the tune of 5.9 billion. And the hits just keep coming. Twitter users react to this latest hit.


Too big to fail!

This Twitter user has some reorganization advice.

The current situation is clearly unsustainable. This is the government at work, people. Time to privatize?

Twitchy will monitor this situation and update with further developments.

Update: Twitter users are also none too pleased with U.S. Postal Service’s alleged service.

  • ricci

    another in a long list of reasons to get rid of public sector unions

    • TocksNedlog

      And in private sector union news, Hostess, which is already in bankruptcy, might close its doors because a third of its workforce — union members — is on strike, and the company can’t afford to keep operating. If they go out of business 18,300 employees may be looking for work.

      • londontubes

        Because they (Hostess) offered to keep them all employed if they would take an 8% cut in pay. if they are making $12 now, that would mean $11.04 after reduction. Union said it was “preposterous”. Let me see, $11.04 vs. $0…….Which would I take? Aren’t unions wonderful?

  • TocksNedlog

    End Saturday delivery, close slow branches, cap pensions . . . say, can Bain Capital invest in the USPS?

    • Teresa Davis McCormick

      don’t think this is a prob for bain capital you dip shit. Obama won, it’s his job.

      • Jillane Kent

        I think he meant Bain as a way to make them leaner and meaner

        • Teresa Davis McCormick

          yea i don’t think bain will invest in anything for a while.

      • TocksNedlog

        All of those measures were recommended in a report issued by the Congressional Research Service back in January. Have ANY of them been implemented? TWO YEARS AGO Obama ‘pushed’ for postal workers to be required to contribute the same percentage of their pay to their health & life insurance plans as other federal workers. Has that happened yet?

    • Teresa Davis McCormick

      don’t think this is a prob for bain capital you dip shit. Obama won, it’s his job.

  • Joe W.

    If not for unions…….

  • Gusta

    There are so many services in the post office that could be automated, but thanks to their massive unfunded liability in the form of pensions, they have neither the money nor the motivation to do so. I once suggested this in a group of fellow business owners and a liberal piped up “But then the old people wouldn’t have anyone to talk to during the day” and they were perfectly serious.

  • Paul C.

    Public unions are part of the destruction of our system through pensions

  • CD

    I’m probably in the minority, but I’ve got nothing but good things to say about USPS. I’ve shipped almost 1000 packages and not one has been lost. The shipping time is usually very quick and the prices are affordable. That might be part of the problem, perhaps it’s too affordable. Other countries charge far more than we do. Canadian prices are vastly more expensive. Some Canadians that live near the border come to the US to ship.

    • GaryTheBrave

      Several years ago a USPS trailer was dropped on the property of the old Denver airport (Stapleton). It was to have been picked up by another truck. It was discovered about four months later. Apparently none of your packages were on that trailer.

    • Vanessa Rumrey

      I sent a blanket to someone in California, and they lost it. I send another package via UPS and it arrives the next day. UPS ftw.

    • William R Nicholson

      CD No One Complained About The Service. I Certainly Wouldn’t Complain Either If The U.S. Citizenry Keeps Footing the Bill For My Packages ! You Haven’t Yet Figured It Out Yet , That All Of Us Will Foot The Bill Whether We Ship 1,000 packages Or None ? You Are Not In The Minority ‘Cept In Believing You Are Going To Be The Only One paying For Your Packages ………..

  • GaryTheBrave

    USPS loses $15,900,000,000 in 313 operating days. Anyone want to do the math?

    Last year I thought it would be fun to take Amtrak from Denver to Salt Lake City. I was quoted a schedule of FOUR DAYS! Take a train from Denver to Klamath Falls, OR (WTF?), then get on a bus…A BUS!…to SLC.

    Now they want to handle health care.

    • gr82cu2

      47,923,322.6837 per day!!!

    • gr82cu2

      47,923,322.6837 per day!!!

  • walterc

    And yet Congress (both parties) can only find budget cuts in Social Security, Medicare & defense. How about we close (or privatize) the post office and save a couple

  • Kimberly Baldi Vincent

    People need to realize that the USPS is the only company/governmental agency in the United States that Congress has mandated they pay $5 billion every year for future retirees!!!!! Why is this not brought up by the media???!!

    • Purple State

      Because it doesn’t fit the narrative.

    • Purple State

      Because it doesn’t fit the narrative.

    • Jillane Kent

      It is brought up all the time. What is not mentioned is the union demands regarding attrition which doesn’t allow USPS much room to trim during poor economic times. Private business has to fund their commitments, so too
      should any enterprise wishing to say solvent.

    • Michelle

      It’s actually even more incomprehensible than that – USPS wasn’t simply mandated to fund pensions for future retirees, it was mandated to fund those pensions out to 75 yrs from now. In other words, they were mandated to fund the pensions of…employees who haven’t even been born yet!

    • Gallatin

      Okay fine, now please explain the other 10.9 billion in losses.

  • Kimberly Baldi Vincent

    People need to realize that the USPS is the only company/governmental agency in the United States that Congress has mandated they pay $5 billion every year for future retirees!!!!! Why is this not brought up by the media???!!

  • CombatDiver

    Another well oiled machine brought to you by our sleek, barely noticeable federal government. Im pretty sure if they throw another 8-10 billion at the USPS, it will get back on track and operate with the precision of an All-Star Ninja.

  • radjahshelduck

    Here is my two point plan towards some fiscal sensibility for the USPS:

    1. It’s not 1955. We don’t need post offices to be as common as Starbucks, because we no longer need to go there much. I get about one book of stamps in a year and a half and I buy them at the ATM. I google mapped and started counting the number of post offices inside the Perimeter here in Atlanta; I got to 38 and I’ll bet I missed a couple. We don’t need a post office per zip code in big cities.
    2. You say you don’t live in a place like Atlanta? You live in a rural area 20 miles from town but still you get a daily delivery? Sorry. You get one delivery a week. If you want to receive your mail more often, you’ll just have to drive your truck to town to pick it up.

  • Delroy_Monjo

    If the USPS had only gone “Green” and and used renewable resources, like employees, maybe this could have been avoided……

  • Stephan

    That ranks right up there with having to pay $9.50 for a burger on Amtrak. A burger that Amtrak pays $16 for. Meaning, that’s right – the taxpayer gets screwed and subsidizes $4.50 of every burger Amtrak sells.

  • Right Wired

    On the UPS facebook page, the very FIRST line says:

    “We are the largest, most efficient postal company in the world”


  • LButler234

    I am sending my Christmas packages though my local mailing business, they pay taxes, they don’t require the tax payer to bail them out.