Postmaster General: Postal Service Bailout Would Cost $58 Billion

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A taxpayer bailout of the U.S. Postal Service would cost about $58 billion through 2017, which Congress could avoid by changing the agency’s business model, Postmaster General Patrick Donahoe said.

The service, which lost $15.9 billion last year, doesn’t want a bailout, and it would be “unnecessary,” Donahoe said today in prepared remarks for a speech at the National Press Club in Washington.

“It may shock you to learn that the Postal Service could be profitable today and for the long-term future; it just needs to operate differently,” he said. “I’m optimistic that Congress will pass a bill this year.”

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