Elon Musk virtually speaking at Morgan Stanley Technology Media & Telecom meeting on Wednesday Called Privatization of US Postal Service, Amtrak and other government-controlled entities.
“I think we need to privatize the post office and Amtrak, for example.” It has been declared.
“There needs to be a chance that something will go bankrupt.”
Compared to other national railway systems in other countries such as China, the mask is called Amtrak, and is known as the “sad situation” in the United States.
“If you're from another country, don't use our national railroad. It can leave a very bad impression of America,” he said.
Musk said he will support the privatization of USPS, Amtrak and “what can be privatized.” However, he noted that such changes require action from Congress.
He explained that privatization creates a “feedback loop for improvement” that does not exist when the entity is funded by taxpayer dollars and is not permitted to fail.
“Essentially, there's no good feedback loop for something to go bankrupt or to improve,” Musk said.
Both USPS and Amtrak have become infamous money pits for American taxpayers.
Last month, USPS workers were picketed after President Donald Trump said he wanted to find a way to make mail agents more profitable. He came up with the idea of placing the USPS under the control of the Department of Commerce, led by Howard Lutnick.
The Washington Post previously reported that Trump plans to privatize postal services through an executive order, but the administration denied that such lawsuits are currently underway.
The National Association of Letterers held a rally in Washington, D.C. in late February despite the White House denial.
“Today, NALC held an event on Capitol's property and sent a clear message to the White House, the union declared.
The union called the USPS a “subsistence agency,” even after receiving $107 billion in Congressional relief two years ago, past the fact that postal agencies generated billions of dollars in annual losses for US taxpayers, including $9.5 billion in 2024.
Amtrak has a similar history to the burden of financial taxpayers. The railway company was founded in 1971 and has never made a profit. Taxpayer funds are floating up to about $1 billion a year, including $66 billion in investments to improve the country's railway system.
Amtrak said Reuters That “business performance is strong.”
“Ridership and revenue is the highest ever. … As required by law, the train service we operate across our national network is the first track in history during this administration to reach operational profitability,” Amtrak said.
The USPS declined to request Reuters for comment.
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