“The post office is literally going to run out of money because of this pandemic,” Dimondstein said. The Post Office is calling for more federal cash and, again, blaming unreasonable retirement funding requirements. Being an … Voting in 2020 is already different than any election ever before. But it is losing money: $4.5bn from January to March, more than double its losses for the same period last year. PRESIDENT DONALD TRUMP: The post office is losing billions of dollars, and the taxpayers are paying for that money because it delivers packages for Amazon at a very below cost. We'll forward your request to your local Post Office ™ facility to help locate any missing items. Additionally, the new bill restricted the post office's ability to set prices. USPS replaces lost, stolen, and damaged money orders. Postal Service 'Unsustainable,' Says GAO. “It’s a moment of crisis that brings us to a fork in the road. This gave the post office an annual loss of more than $5 billion for the year. Postal Service (USPS). If you're sending your ballot back through the mail, the post office recommends giving your ballot at least a 15-day round trip to get from your local election offices to you and back. By Aimee Picchi April 10, 2020 / 11:01 AM / MoneyWatch Being an essential worker amid virus pandemic . U.S. post office loss doubles as it warns COVID-19 will hit its finances. But the story's more complex than that. WASHINGTON (Reuters) - The U.S. Postal Service is running out of cash. In addition, the post office must cover its costs in its commercial package delivery business under the … On April 3, Trump said, "the post office is losing billions of dollars," at U.S. taxpayers' expense. And That Was Before COVID-19 Hit. 5 Min Read . The Post Office’s Problem Isn’t Trump Democrats cry sabotage. One version of the meme was originally published in 2013, another in 2018 and both resurfaced this monthA dispute between Congress and the Trump administration over funding to help the United States Postal Service (USPS) through the novel coronavirus led tens of thousands of people to share an old Facebook post claiming that the agency is not losing money and has no debt. Further replacement of corporate post offices with franchised postal outlets. It’s losing money because in 2006, the Republican-led Congress passed a … In June, Louis DeJoy, a … The $2 trillion coronavirus stimulus package signed into law provides no funding for the U.S. It's true that the post office is losing money. Postal Service Too Mail volume is way down, and the U.S. The Post Office has lost money for years, though advocates note it’s a government service rather than a profit-maximizing business. (The Washington Post) The report estimates annual savings of $100 million by 2020 if this option is chosen. Find out how much a money order costs or if your money order is real and whether it has been cashed on USPS.com. It reported a $2.7 billion net loss in 2017 . Credit: PA The Department for Work and Pensions will no longer allow new benefits or pensions recipients from collecting payments via Post Office card accounts as of next week, as the department prepares to phase out its use of the payment system entirely next year. Reduced speed of delivery. U.S. Postal Service lost money in six out of the 10 years from 2001 through 2010, according to its financial reports. Claim: The United States Postal Service (USPS) is losing money due to a 2006 law mandating it fund its pensions 75 years in advance. The USPS said the pandemic will increase its net operating loss by more than $22 billion over the next 18 months and by over $54 billion over the coming years. “The Trump administration is mistaken about its claim that the postal service is losing money ‘every time they hand out a package for Amazon and other Internet companies,’” O’Rourke said. But mail volume is way down, and the USPS is losing billions of dollars. You can buy money orders at any Post Office to send anywhere. Here are a few key voting terms to best understand how to make sure your vote counts. Use the Post Office Branch Finder tool to find our where your nearest branch is and what services are available at your local branch. Billie Eilish is the latest celeb to participate in the "post a photo of" challenge and it looks like it may have cost her a ton of Instagram followers. 3. The USPS has lost $78 billion since 2007, but could lose … By the end of the decade, the semi-independent government agency's losses had reached a record $8.5 billion, forcing the Postal Service to consider seeking an increase in its $15 billion debt ceiling or face insolvency. A Facebook post said: "The Postal Service is not losing money because of Amazon. Postal Service warns it could run out of money by October . VIDEO 3:18 03:18. Trump: Post Office … August 18, 2020, 12:26 PM EDT ... said it doesn’t lose money on the agreement. From the census to the November election, the Postal Service is critical to American democracy. The U.S. Post Office. Rep. Gerry Connolly (D-Va.), who is on the oversight committee, painted a dire picture of the agency’s operations in a Thursday afternoon tweet. A mailman wearing a mask and gloves to protect himself and others from COVID-19 loads a postal truck with packages at a United States Postal Service (USPS) post office location in … Due to low revenue and a huge dip in circulation, the United States Postal Service is asking for $89 billion in funding, or they may shut down. The mail delivery service might have to shutter by June 2020 as a result. Trump is right that the post office continues to lose billions of dollars per year, but its package delivery business actually helps it bring in money. Start Your Form. The USPS is facing financial setbacks made worse by the coronavirus pandemic -- as well as fears of disenfranchisement with more and more COVID-19-wary voters turning to mail-in ballots. The Post Office. Claim: The U.S. economic downturn due to the COVID-19 coronavirus pandemic in early 2020 was forcing the United States Postal Service to close. 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