News release: “Reporting that broad restructuring is urgently needed, the U.S. Government Accountability Office (GAO) today added the financial condition of the U.S. Postal Service (USPS) to its High-Risk List of federal areas in need of transformation…Mail volume fell by 9.5 billion pieces in fiscal year 2008 to a total of 203 billion pieces and is projected to fall by 28 billion pieces in fiscal year 2009 to a total of 175 billion pieces. USPS expects mail volume and revenue to continue declining next year, and flat or continued volume decline over the next 5 years. USPS projects a net loss of $7 billion this fiscal year, with outstanding debt increasing to over $10 billion, and a cash shortfall of about $1 billion. USPS also expects that its projected losses will continue in fiscal year 2010.”