Top Political News

News > Politics > Top Political News > US Postal Service loses $2B this spring

US Postal Service loses $2B this spring

WASHINGTON (AP) — The U.S. Postal Service says it lost $2 billion this spring despite increasing its volume and charging consumers more money to send mail. The agency's quarterly loss was significantly higher than its $740 million loss during the same three-month period last year. The agency said revenue jumped 2 percent compared to last year. But because of compensation and benefit costs, the agency continues to face a deficit. Agency officials said the Postal Service would likely remain in bad shape unless Congress acts on reform legislation. In a statement released Monday, the agency said it would have to default on a congressionally mandated payment of $5.7 billion this September for health benefits for future retirees.

Top Political News

WASHINGTON (AP) — Months before becoming president-elect of Afghanistan, Ashraf Ghani Ahmadzai began spending tens...
A look at the domestic legal justifications the U.S. has used for military action around the world: IRAQ AND SYRIA...
WASHINGTON (AP) — The U.S. and partner nations began launching airstrikes against Islamic State group targets in...
WASHINGTON (AP) — The Pentagon says the U.S. and partner nations have begun airstrikes in Syria against Islamic...
WASHINGTON (AP) — Vice President Joe Biden told frustrated Hispanic leaders Monday President Barack Obama is "...