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Obama rules out USPS® privatization

President Barack Obama this week ruled out the prospect of selling the United States Postal Service (USPS) in order to raise money for the nation's $12 trillion debt.

In an interview on social networking video streaming service YouTube, he said that privatizing government-run agencies such as USPS was a "bad idea most of the time".

The president added: "Oftentimes [sic] what you see is companies want to buy those parts of a government-run operation that are profitable and they don't want to do anything else."

He went on to say that safeguarding the services that USPS offered was extremely important, adding that "the U.S. Post Office provides universal service. Those companies would not want to provide universal service. So you've got to make sure that you look carefully at what privatization proposals are out there".

The postal service has recently announced a string of new features to help better its service, including USPS mobile - an app on smartphones which allows users to check addresses and verify the ZIP Codes of a mail piece's destination.

USPS has said that they hoped these services would help to reduce the amount of returned mail brought on by bad addresses.

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