Ronald Reagan liked to quip that only in government is failure rewarded with more money. Witness the U.S. Postal Service, which the Senate has voted to give another $34 billion while delaying reforms that would save money. If today’s Senate had been around a century ago, the Pony Express would still be delivering the mail.
The Postal Service is losing $25 million a day as more communication goes electronic, and the Postmaster General acknowledges that sometime next year the agency won’t be able to pay its more than 500,000 employees. Without serious reforms, its debt will climb to over $92 billion by the end of 2016.
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