By Erica Wisniewski - 09/12/11 04:04 PM EDT
House Oversight and Government Reform Committee Chairman Rep. Darrel Issa (Calif.) criticized the U.S. Postal Service's business plan Monday, noting that their problems are much more serious than they have reported.
"They have gone the wrong way — they have gone from having no debt to having $15 billion in debt, which was their debt limit. ... That tells us, as a businessman, that no matter what they say, they have more than a small cash flow problem," Issa said Monday on MSNBC's "Morning Joe."
The USPS has been at the center of several congressional hearings over its operating and budgetary issues.
Issa discussed the various plans to help the Postal Service maintain operations while it tries to pull itself out of debt. Outside of running under a huge deficit, Issa also focused on the size of the Postal Service's workforce, saying that they had too many employees.
"They have declining revenues and they haven't rationalized the hard and soft assets: hard assets being obviously post offices, but the soft assets, which is 80 percent of their costs, being human beings. And if you've got too many human beings, you'll build inefficiency, you'll use labor poorly, and that's what's been happening."