Trump Clarifies “I will never let our Post Office fail” in Tweet

Friday, President Trump tweeted:

I will never let our Post Office fail. It has been mismanaged for years, especially since the advent of the internet and modern-day technology. The people that work there are great, and we’re going to keep them happy, healthy, and well!

Yahoo reports the U.S. Postal Service, which is run as an independent federal agency and generally doesn’t take federal money, has been facing economic hardships in recent years and the current crisis is threatening to push it over the edge.

“We need to start thinking in those apocalyptic terms,” Rep. Gerry Connolly (D-Va.), who oversees the Post Office, said in a recent Yahoo Finance interview, “because we are about to face the apocalypse.”

Mail volume (and the accompanying revenue) could be down 50% this year, according to some estimates, and Connelly predicts they could run out of money by this summer.

The most recent stimulus package included some help: $10 billion in additional borrowing authority.

Congressional Democrats say Trump personally removed the more generous provisions from the bill during negotiations. The NALC called the conditional line of credit a “slap in the face” and Connolly said it’s unacceptable.

“The Postal Service doesn’t need more debt,” Rolando said. “What they need is to be in a position that they were in before the virus, after the virus.”

The loan money is controversial because it comes with strings attached. On Thursday, the Washington Post published a story reporting that the Trump administration “is considering taking unprecedented control over key operations of the U.S. Postal Service,” using the line of credit as leverage.

“We are going to put certain criteria for a postal reform program as part of the loan,” Treasury Secretary Mnuchin said on Friday.