United States Postal Service Racks Up Another HUGE Loss

USPS service delivery truck in a residential a...

Image via Wikipedia

The United States Postal Service just ended their fiscal year on September 30th.  During that time period, the USPS lost $5.1 BILLION.  The only reason this figure was not $10.6 BILLION is because new legislation allowed the USPS to delay a $5.5 billion payment to a retiree health benefit fund.

The USPS needs to cut another $20 billion by 2015 to move back into the black.  On the table are more post office closings, dropping Saturday delivery, taking on non-mail related business and reducing retiree health costs.

The USPS saw their income drop about $1.4 billion dollars over the previous year.

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One comment on “United States Postal Service Racks Up Another HUGE Loss

  1. The USPS should drop Saturday delivery.When we get bills on Saturday that we have questions about,we have to wait for Monday to take care of it.Cutting out Saturday delivery would be a great start.They also,like many,many cities in this country,need to take a closer look at the retiree’s benefits.Health care for retirees are simply outrageous.How can a conpany run it’s business when they have to pay so much in health care for people who don’t even work for them anymore.Many cities in this country are facing the same problem.The retired city worker’s health care is (sometimes) completely paid for 100%.You ask why a city such as Harrisburg just filed for bankrupcy.I work a full time job(plus a part-time night/weekend job)and I pay over $70.00 a week for my health care.That’s just the premium.That does not include my dental coverage.I pay that separate.I’m not sure what the solution is for all of this.I hope someone can come up with a solution soon.Or we will find ourselves a 3rd world country,REAL soon.

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