Time to phase out the Post Office?

Phase it out or better yet, sell it. I think the private sector is perfectly capable of handling and updating an increasingly obsolete service.

What good reason do we have to pour money down a sinkhole when we could be collecting taxes from a similar private enterprise?

The Postal Service, faced with continuing financial losses because of a drop in mail volume, expects to default for the first time...

The $5.5 billion payment, which was deferred from the 2011 fiscal year, is due Aug. 1. The Postal Service is also scheduled to make a $5.6 billion payment for 2012 in September. A spokesman for the agency said that barring intervention from Congress, it would default on both payments.

“We are simply not capable of making either of these payments to the U.S. Treasury, in part or in full, while continuing to meet our other legal obligations...

Reason's Nick Gillespie discussed this back in May of last year: