Important to know the approach were taking here. Are there costs to be cut . Yes. Are the things we can do to become more effective . More efficient . Yes. But i also believe the Postal Service is a vital tool of commerce and a thriving vibrant, productive Postal Service is essential to our economy. We cannot ignore this. Think about the world of the internet, think about the way commerce is moving, the way we communicate, how we send bills and kmoocommunicate as a nation. You have to have a vibrant, thriving Postal Service to achieve that. Thats why i think so many people are here today and rithser one of the most important things our committee will be addressing and taking care of and thats the goal and what were trying to achieve and i thank you all for being here. We should have a good hearing today. With that, Ranking Member, mr. Comeings of maryland. I want to thank you for your hard wi hard work and staff on both sides working so hard for a long time to try to resolve the many c
Mail, they face an unprecedented financial crisis. Since 2006, mail volume has declined more than 25 or about 60 billion of pieces of mail annually. Theyve lost money for nine straight years. They face mounting longterm financial challenges. They have 54 billion for retiry health care and has exhausted its statutory debt limit and it lacks the funds it needs for critical infructure investmeinv. And a Delivery Fleet think about all the millions and millions of postal boxes that need somebody to come deliver the mail to them. It is a miraculous thing that for less than 50 cents, you can put a stamp on an envelope and a day or two or three days later, its going to show up at another address in the country. It really is truly amazing. But if youre going to purchase new delivery vehicles, youre going to need money and its something that the Postal Service does not have. In the mean time, they must manage a Delivery Fleet of vehicles on average is 20 years old and costs 20 billion a year in
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