David Yao

May 11th

Why is the Postmaster General Understating Postal Revenue Gains?

In a May 9, 2014 press release, the Postal Service issued another quarterly press release turning an operating profit (of $261 million) into a loss. The supposed loss, an accounting fiction, was caused entirely by the 2006 law which generates a long-term loan to the Federal treasury, under the guise of “pre-funding” employee benefits. In […]

Nov 20th

USPS Announces $5 Billion Loss; Unions Point Out Actual $623 Million Operating Profit

The U.S. Postal Service on Friday announced its year-end results for Fiscal Year 2013, citing a loss of $5 billion. Two major postal unions were the first to point out that the Postal Service actually made a profit on its operations. Headlines across the country are shouting that the USPS lost billions of dollars again […]