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Recode Daily

How to save the post office

Recode Daily

Recode

Society & Culture, Science, Technology

4.61.3K Ratings

🗓️ 18 December 2020

⏱️ 8 minutes

🧾️ Download transcript

Summary

The postal service is in trouble. It may be hard to imagine such an essential part of society not existing anymore, but agency could run out of money next year. Recode’s deputy editor, Adam Clark Estes explains why and the possibly ways to save it. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

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0:29.0

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0:32.0

Learn more at meta.com.

0:34.0

We need the post office.

0:44.0

The U.S. Postal Service obviously played a huge role in the recent presidential election.

0:50.0

65 million mail ballots returned,

0:52.6

almost double the amount in 2016.

0:55.6

But now that we're through the election

0:57.6

and despite this essential function,

0:59.8

the Postal Service is still in trouble.

1:02.8

In fact, the agency can run out of money next year.

1:08.3

Here to explain why and possible ways to save the Postal Service

1:12.0

is RICO's deputy editor Adam Clark Estes. Hey

1:14.3

Adam. Hey Teddy. So what's the big deal like why is the post office in trouble?

1:18.4

The Postal Service has been in trouble for a few years and it's a financial thing. To make a long story short

1:24.4

starting about 15 years ago the Postal Service had to start prepaying its

1:28.4

retirement benefits which make its finances look really bad.

...

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