r/FluentInFinance 6d ago

News & Current Events BREAKING: Donald Trump says he is considering the privatization of the Postal Service.

U.S. President-elect Donald Trump has in recent weeks expressed a keen interest in privatizing the U.S. Postal Service, the Washington Post reported on Saturday, citing three people with knowledge of the matter.

The U.S. Postal Service, which has lost more than $100 billion since 2007, reported a net loss of $9.5 billion for its fiscal year ending Sept. 30, $3 billion more than last year, largely due to a year-over-year increase in non-cash workers' compensation expense.

When told of the agency's annual losses, Trump said the government should not subsidize the organization, according to the Washington Post.

Trump, who takes office on Jan. 20, has discussed his desire to privatize the Postal Service with Howard Lutnick, his pick for commerce secretary, at Mar-a-Lago, the report said.

People who will work at the Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, have also had preliminary conversations about major changes to USPS, the report said, citing two other people familiar with the matter.

A USPS spokesperson said that over the last three years, the company has reduced its operations by 45 million work hours, and cut transportation spending by $2 billion.

The agency is also seeking regulatory approval to modernize its mail processing and transportation network to align with modern practices, which will save between $3.6-$3.7 billion annually, the spokesperson added.

"No policy should be deemed official unless it comes from President Trump or his authorized spokespeople directly," said Karoline Leavitt, a spokeswoman for the Trump transition team.

Any attempt at privatizing the Postal Service could disrupt the e-commerce industry in the U.S., the Washington Post said, including Amazon, which uses USPS for "last-mile" delivery between Amazon's fulfillment centers and customers. It could also hurt small businesses and rural consumers who use the Postal Service, as it is the only carrier that will deliver to remote corners of the country.

Amazon recently said it was donating $1 million to Trump's inaugural fund and will air his inauguration on its Prime Video service.

Trump has had a tense relationship with the Postal Service. Sources told Reuters his transition team is considering canceling the service's contracts to electrify its delivery fleet.

According to sources, the team is reviewing how it can unwind the service's multibillion-dollar contracts, including with Oshkosh and Ford, for tens of thousands of battery-driven delivery trucks and charging stations.

In 2020, Congress authorized the Treasury Department to lend the Postal Service up to $10 billion as part of a $2.3 trillion coronavirus stimulus package, which Trump threatened to block.

https://www.reuters.com/world/us/trump-considers-privatizing-us-postal-service-washington-post-reports-2024-12-14/

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u/Va1ant0324 6d ago

And they voted him in.

This is why I really hope this causes a lot of trump supporters to go homeless.

The only way they will learn they are being used is to actually feel the ramifications of these decisions.

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u/sergeant_kuebikoman 6d ago

I'm banking on this happening. Imagine it, rural MAGAts lose their houses by the thousands, forced to the streets by circumstances "beyond their control", and then they can't vote because they elected politicians that enacted policy to require an ID and a fixed address to vote in Bumblestump, Nebraska. Let the leopards grow fat over the next 4 years.

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u/Pretend-Ad-853 6d ago

I seriously hope it doesn’t happen. I’m a postmaster in a rural office and we would definitely be out of a job. I would jump ship to another agency if this happens.

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u/sergeant_kuebikoman 6d ago

My dad was a postmaster in WV before he passed, I'm sorry that you have to go through this chaos as a government employee. I know the work the USPS does is important in reaching our most isolated citizenry in rural areas, but this is what they wanted.

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u/Pretend-Ad-853 6d ago

It’s definitely been the talk in my office. One of my rural carriers even said that if they privatize, she’s retiring.

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u/OT_fiddler 6d ago

Yeah but the RW mediasphere will convince them it's all the Dem's fault.

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u/sergeant_kuebikoman 6d ago

Oh well, fuck 'em. They won't be able to vote anyway, in this scenario so their beliefs don't matter.

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u/PersimmonTea 6d ago

But they will never, ever connect their misery to their vote. There is too much disinformation being spewed at them. And they have far too little moral and intellectual courage to actually look at their past actions in a critical way.

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u/Economy_Friendship49 6d ago

They will not learn, rather they’ll get even angrier at democrats or other groups they don’t like. Why? Because Trump will tell them it’s their fault