The US Postal Service has experienced a 20% drop in mail volume in the last 5 years due to more online banking, utility billing, and other shifts to the web. As a result, half the nation's post offices are operating at a deficit and the Postal Service is thinking about closing over 16,000 out of 32,000. In 2010 the US Postal Service ran an $8.5 billion deficit. So little post offices like the one in Star Tannery West Virginia are on the chopping block.
It's all about the bottom line, Voorhees said. The Postal Service pays only $300 a month for its office in Star Tannery and a minimum of $33,000 a year for a postmaster, but revenue has fallen - from $37,316 in 2008 to $31,341 last year.
I've got a few modest proposals:
BTW, if you haven't already moved your utilities and other bill handling online I highly recommend it. The total work load goes down when you no longer have to collect and open so much mail and when you can set up automated payments. The banks vary considerably in the quality of online service they provide. You might want to have one online bank and a separate bricks-and-mortar bank.
|Share |||By Randall Parker at 2011 February 07 05:33 PM Economics Creative Destruction|