USPS attacked over losses, rate increases

Public advocacy group Citizens Against Government Waste (CAGW) is calling for a financial audit of the United States Postal Service (USPS) as the agency raises rates to cover billion-dollar operating losses. CAGW said USPS's debt has risen to nearly $13 billion and the agency is burdened with another $80 billion in additional liabilities, and has no debt reduction plan in place. A telephone survey

Public advocacy group Citizens Against Government Waste (CAGW) is calling for a financial audit of the United States Postal Service (USPS) as the agency raises rates to cover billion-dollar operating losses.

CAGW said USPS's debt has risen to nearly $13 billion and the agency is burdened with another $80 billion in additional liabilities, and has no debt reduction plan in place.

A telephone survey conducted by Wirthlin Worldwide for CAGW reports that 85% of Americans want independent auditors to investigate the USPS's finances and make the results public, before the Postal Service is allowed to raise rates again. The Postal Service raised its rates today as it tries to recover from the $1.1 billion loss it had last year.

"Our Postal Service is headed for a financial train wreck and postal officials are asleep at the switch," said CAGW vp Leslie Paige. "Private companies are learning the hard way about accountability and transparency, but our Postal Service is not getting that message."

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