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USPS joins GAO high-risk list

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Update, 11:43 a.m.: Here’s a slightly eye-popping statistic from the GAO report: The Postal Service is projecting a $7 billion loss in FY2010 (next year) — even after reducing its expenses by $8 billion. Put another way, there is a $15 billion gap between the Postal Service’s projected FY2010 revenues and its current expenses.

Update, 11:37 a.m.: That was quick. Here’s GAO’s report (pdf) about why the Postal Service is on the list.

Update, 11:25 a.m.: Here’s a link to GAO’s current 2009 high-risk list (pdf). The list was started in 1990 and is updated biennially; it documents agencies that are especially prone to “fraud, waste, abuse and mismanagement,” or those that need “broad-based transformation.”

Original post: The Government Accountability Office will officially add the U.S. Postal Service to its high-risk list today. GAO says it will release more details this afternoon; we’ll let you know when they come in.

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Comments

  1. PhiCrappaZappa Says:
    July 30th, 2009 at 5:29 pm

    Hi. Love the journalism, etc., but I must admit I have been livid since reading your latest report. The problem is not the latter, it IS the former four choices – especially mismanagement. I love my job. I want to keep my job. I enjoy knowing that I serve John Q. Public in spite of my idiot leaders. So rather than consume four or five e-mails worth of rants about the deficiencies, let me just say that the GAO is FULL OF SHIT – because that is what they’ve been fed, and know no better than the lies their sources give them.
    Please withhold any info about me. Thanks. Feel free to contact me, though.

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