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The Kudlow Report: Could The Post Office Go Bust?

5.11.11

Husch Blackwell Senior Advisor James C. Miller appeared on CNBC's The Kudlow Report to discuss the economic condition of the United States Postal Service. Current member and Former Chair of the USPS Board of Governors, Miller said the postal service is losing money due to the advancement of electronic communication and the state of the U.S. economy. He offers his theory on how the postal service can lower costs and be more competitive. "What we need to do is make it run like an efficient business enterprise," Miller said, but he goes on to explain that some laws cause the USPS extra financial strain, making this goal harder to obtain. For example, laws passed by Congress require the postal service to prepay federal health benefits for retirees; these benefit plans are more costly than other federal employee plans. "If we didn't have to pay those, that would be a much bigger advantage than we have today." Miller stresses that the postal service needs to be able to curtail what he sees as excessive costs in order to compete in the modern marketplace: "Without the ability to compete, we're not going to make it."

Click here to watch the video clip.