Fact Check: USPS lost $9.5 billion in fiscal 2024 under DeJoy's plan.

Fact Check: "USPS lost $9.5 billion in fiscal 2024 under DeJoy's plan."

What We Know

The U.S. Postal Service (USPS) reported a net loss of $9.5 billion for fiscal year 2024, which ended on September 30, 2024. This loss occurred despite ongoing reform efforts under the leadership of former Postmaster General Louis DeJoy, who initiated a 10-year plan known as "Delivering for America" in 2021. The plan aimed to improve the financial sustainability of USPS by implementing various operational changes, including slowing down delivery times and consolidating processing facilities (source-1; source-2).

Despite these efforts, USPS faced significant challenges, including a decline in mail volume and rising operational costs, particularly related to retiree benefits and inflation adjustments (source-2; source-4). The financial results indicated that USPS's losses were exacerbated by fixed costs, which accounted for a substantial portion of the deficit (source-7).

Analysis

The claim that USPS lost $9.5 billion in fiscal 2024 is substantiated by multiple credible sources, including official USPS reports and analyses from reputable news outlets. The USPS's own financial report confirms the net loss of $9.5 billion, which is a significant increase from the previous year's loss of $6.5 billion (source-4; source-8).

Critics of DeJoy's plan, including stakeholders from various sectors, have expressed concerns that the operational changes have not yielded the expected financial benefits and have instead led to service degradation and increased costs for consumers (source-1). This bipartisan criticism suggests a broader consensus that the current strategy may not be effectively addressing the financial challenges facing USPS.

The reliability of the sources is high, as they include both direct statements from USPS and analyses from established news organizations. However, it is important to note that some opinions expressed may be influenced by political or economic biases, particularly from stakeholders advocating for changes to DeJoy's plan.

Conclusion

The claim that "USPS lost $9.5 billion in fiscal 2024 under DeJoy's plan" is True. The financial results from USPS clearly indicate this loss, which has been corroborated by multiple credible sources. The ongoing challenges faced by USPS, including rising costs and declining mail volume, highlight the difficulties in achieving financial sustainability despite the reforms implemented under DeJoy's leadership.

Sources

1. With DeJoy out, postal stakeholders push for pause in criticized Delivering for America overhaul plan
2. USPS loses $9.5B in FY24 and says another red year is coming
3. With DeJoy out, postal stakeholders push for pause in criticized Delivering for America overhaul plan
4. U.S. Postal Service Reports Fiscal Year 2024 Results
5. After two "Forever" postage stamp hikes, the USPS lost nearly $10 billion in 2024
6. HS Code 85153990 - Machines for arc metal welding - Tariff
7. USPS sees $9.5B net loss in FY 2024, does not expect to hit 'break-even' goal next year
8. USPS Loses $9.5 Billion in FY 2024