Donald Trump Explores Privatizing the United States Postal Service; Experts Warn of Massive Job Loss
In recent weeks, Donald Trump has reportedly revisited the possibility of privatizing the United States Postal Service (USPS) due to its significant financial loss.
According to the Washington Post, the move was discussed during a meeting at Trump’s Mar-a-Lago residence, with specifics surrounding the privatization plans remaining unclear. But, insiders close to the situation say that with Trump’s second term set to kick off on January 20th, the idea has been gaining major attention.
Trump’s criticism of the postal service can be traced back to his first presidential term, where he clashed with the agency over its operational decisions. At the time, Trump attempted to gain control by urging the agency to turn over the key functions to the federal treasury department. Of course, this spiraled into controversy, especially during the 2020 Presidential election when Trump spoke on the agency’s ability to handle mail-in ballots. Later on, his administration blocked emergency funding for the agency, which resulted in widespread fear of delayed voting. Despite this, USPS was able to deliver nearly 98% of ballots to election officials within three days.
Established in 1775, the USPS has remained one of the most popular federal institutions. However, in recent years, financial struggles have loomed over the agency. In fact, the fiscal year for USPS which concluded on September 30th, reportedly saw a $95 billion loss and nearly $80 billion in liabilities. Even though efforts have been put in place to improve infrastructure, the decline in mail volume and lagging parcel shipments have kept the agency in a rough spot.
Despite Trump’s renewed focus on privatization due to financial losses, he believes the USPS should not be taxpayer-subsidized. Critics warn that privatizing USPS could lead to significant job losses and disruptions in consumer shipping and business supply chains.
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