“Despite the many significant accomplishments of postal management during fiscal 2012, the governors based their decisions on compensation on the fact that the Postal Service continues to face significant financial challenges,” the report says.
Meanwhile, Thursday’s financial news continued to raise sharp questions about the mail service’s long-term future.
Announcing $15.9 billion in losses for fiscal 2012, postal officials urged Congress to pass legislation that would address a host of issues, including a requirement that the Postal Service pre-fund retiree health care benefits. That mandate alone accounted for about 70 percent of the Postal Service’s net loss for fiscal 2012, officials said.
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Jim McElhatton is an investigative reporter for The Washington Times. He can be reached at firstname.lastname@example.org.
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