The United States Postal Service is facing a financial crisis that could leave it unable to deliver mail within a year, Postmaster General David Steiner warned Congress this week. USPS has lost over 104 billion pieces of mail annually since its 2006 peak of 213 billion pieces, dropping to 109 billion pieces today.
Steiner said this volume decline represents approximately $81 billion in lost revenue at current stamp prices of 75 cents. He warned that "at our current rate, we'll be out of cash in less than 12 months" and called the situation a "critical juncture" requiring urgent operational and pricing flexibility.