http://www.gao.gov/new.items/d09958t.pdfAugust 6, 2009
USPSs financial condition and outlook continue to deteriorate with a
worsening outlook for mail volume and revenue. USPS now projects mail
volume to decline to 175 billion pieces in fiscal year 2009, a 13.7 percent
decrease from fiscal year 2008. As a result, USPS projects for fiscal year 2009:
a net loss of $7 billion, even if it achieves record savings of more than $6
an increase in outstanding debt to a total of $10.2 billion; and,
despite this borrowing, an unprecedented $1 billion cash shortfall.
Quite the contrary...