USPS warns it may not make it to 2027 without changes—starting with pricier stamps

This week, postmaster general David Steiner testified before Congress highlighting major concerns about the United States Postal Service (USPS). Steiner said that USPS is at a “critical juncture” and underscored the “urgent need for greater operational and pricing flexibility” in order to maintain the service. “We got here because of the drastic reduction in the use of mail,” Steiner explained. “From the historic peak volume of 213 billion pieces per year in 2006 to 109 billion pieces today, we have lost over 104 billion pieces per year in our system. For perspective, if all of that lost volume was paid at the current price of a stamp, which is 78 cents, that’s about 81 billion dollars. No company could weather that much revenue loss.” Steiner continued, warning, “At our current rate, we’ll be out of cash in less than 12 months. So in about a year from now, the postal service would be unable to deliver the mail.”The postmaster gener