Update, 11:43 a.m.: Here’s a slightly eye-popping statistic from the GAO report: The Postal Service is projecting a $7 billion loss in FY2010 (next year) â€” even after reducing its expenses by $8 billion. Put another way, there is a $15 billion gap between the Postal Service’s projected FY2010 revenues and its current expenses.
Update, 11:37 a.m.: That was quick. Here’s GAO’s report (pdf) about why the Postal Service is on the list.
Update, 11:25 a.m.: Here’s a link to GAO’s current 2009 high-risk list (pdf). The list was started in 1990 and is updated biennially; it documents agencies that are especially prone to “fraud, waste, abuse and mismanagement,” or those that need “broad-based transformation.”
Original post: The Government Accountability Office will officially add the U.S. Postal Service to its high-risk list today. GAO says it will release more details this afternoon; we’ll let you know when they come in.