July 12, 2012
The head of the U.S. Postal Service said Tuesday that if the service doesn’t cut costs and Congress fails to act, it’s going to be in the same dire straits as Greece.
Postmaster General Patrick Donahoe drew chuckles from a group of postal policy conference attendees by comparing the beleaguered, indebted Postal Service to the beleaguered, indebted nation.
He said that Greece’s ratio of debt compared to gross domestic product is 1.61 and the U.S. Postal Service’s ratio of debt compared to revenue is 1.51.