GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
This report provides an update on the federal government’s fiscal condition at the end of FY 2019 and the unsustainable path it is on if policies don’t change.
Among its findings:
Publicly held debt rose to 79% of GDP.
The federal government is on an unsustainable fiscal path.
Federal spending continues to outpace revenue—by $587 billion in 2016—and, absent policy changes, the structural gap between revenues and spending puts the federal government on an unsustainable long-term fiscal path.
What GAO FoundThe U.S. Postal Service (USPS) currently offers 12 nonpostal services (i.e., services not directly related to mail delivery) that were grandfathered by the Postal Regulatory Commission (PRC) after enactment of the Postal Accountability and Enhancement Act (PAEA).
As required by Congress, the U.S. Postal Service (Service) has issued three fundraising stamps--also called semipostals--which are sold at a higher price than First-Class stamps, with the difference distributed to designated federal agencies for specific causes.
GAO reported in 2005 on major changes in the mailing industry that have reinforced the need for the U.S. Postal Service (USPS) to reduce costs and increase efficiency. To address these changes and become more efficient, USPS is implementing initiatives aimed at realigning its mail processing network.
U.S. Postal Service (USPS) delivery performance standards and results, which are central to its mission of providing universal postal service, have been a long-standing concern for mailers and Congress.
Congress has directed the U.S. Postal Service to issue three fund-raising stamps, also called semipostals, since 1998. These stamps are sold at a higher price than First-Class stamps, with the difference going to federal agencies for specific causes.
With declining mail volumes, increasing compensation costs, and a more competitive marketplace, the need for the U.S. Postal Service (Service) to increase efficiency and reduce expenses is a matter of increasing importance and concern.