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

FORT MEADE, Md. (AP) — A military judge is ordering the Pentagon to replace the overseer of war crimes tribunals...
WASHINGTON (AP) — Israeli Prime Minister Benjamin Netanyahu insisted Monday that despite recent differences with...
WASHINGTON (AP) — Sen. Barbara Mikulski, the longest serving woman in the history of Congress and a tough, no-...
WASHINGTON (AP) — The Obama administration pushed ahead Monday with an effort to end its standoff with Israel,...
WASHINGTON (AP) — The Supreme Court has turned away an appeal from same-sex marriage opponents in California who...