The U.S. postal Service continues to lose vast amounts of money despite its monopoly on mail delivery. Congress should allow competition in letter deliveries as it does with packages. Fed Ex and UPS do a fine job of delivering packages and no doubt would provide a more efficient alternative to the Post Office, one that would never need to be bailed out.
The free market would decide what services to provide and how much to charge for them. Allowing competition in postal services now will ensure that we will never have a crisis event where mail delivery is halted when the U.S. Postal services inevitably runs out of cash. As it is, it is borrowing money from the Treasury to survive.
This article came out today saying that the Post Office has halted payments to its employees retirement funds because it simply doesn't have the money. It appears they are hanging on by a thread and will soon have their hand out for a taxpayer bailout. Instead of throwing good money after bad, we should legalize competition now and let the most efficient providers survive.
Perhaps some (or all in the event of a bankruptcy) of the existing buildings used by the Post Office can be sold to UPS or Fed Ex, or a new company. The Post office workers would no doubt be the most likely candidates to be hired by the private workforce for mail delivery. Just as we do not need a quasi federal agency to provide shoes, or TVs, or umbrellas to the market, we don't need one to provide letter delivery. Let the free market do its work.