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U.S. Postal Service Hits All-Time Low with $15.9 Billion Loss

Posted: Nov. 15th, 2012  |  By DailyLuxe News

Do you still think that the goverment can run a busness efficiently or effectively?  

While retiree health benefits of $11.1 billion contrbuted heavily to the full amount of the loss suffered by the USPS, the service still would have come close to last year's $5.1 billion annual loss sans that big payout. Not good. 

"It's critical that Congress do its part and pass comprehensive legislation before they adjourn this year to move the Postal Service further down the path toward financial health," he said. The Postal Service is seeking more leeway to manage its business independently and reductions in prefunding retiree health benefits.

 

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