The Washington Post has an editorial this morning about the Postal Service’s deteriorating finances. Most of it is pretty sensible, but it includes this bizarre claim (emphasis mine):
If it continues on its present course, the U.S. Postal Service stands to post $6 billion to $12 billion in losses by the end of the fiscal year.
I have absolutely no idea where they got this figure. We reported last month that the Postal Service has lost $2.3 billion during the first half of fiscal year 2009. So it would have to lose a whopping $10 billion in just six months to reach the Post‘s worst-case scenario.
A $6 billion loss is very realistic — that’s what the Postal Service itself projects. But $12 billion? No way.
(I do have to give the Post some praise for its headline. “Too Big to Mail”? Catchy.)
Tags: Washington Post