**GAO-11-428T**                      Published: Mar 02, 2011. Publicly Released: Mar 02, 2011.                  

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## Highlights

The U.S. Postal Service's (USPS) financial condition and outlook are deteriorating because revenues are not sufficient to cover its expenses and financial obligations. These challenges continue to threaten USPS's financial viability and GAO has therefore retained USPS on its high risk list issued in February 2011. USPS also faces cost pressures from maintaining a national network of processing, retail, and delivery operations. This testimony discusses (1) updated information on USPS's financial condition and outlook and (2) actions needed to modernize and restructure USPS. It is based primarily on GAO's past and ongoing work, as well as GAO's review of USPS's recent financial results and the President's proposed budget for fiscal year 2012.

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## Topics

Government Operations

Agency debtAgency evaluationCost analysisCustomer serviceFederal agency reorganizationFinancial analysisFinancial managementFinancial statementsPostal servicePostal service employeesRetirement benefitsStrategic planningBusiness operationsExpensesFinancial conditionMail processing operations