The loss for the financial quarter ending March 31 was narrower than a $3.2 billion loss for the same period last year, thanks to slightly higher revenues and lower payments towards health benefits for workers who will retire in the future.
But the post office continues to lose money at a rapid pace due to a decline in mail volume and a Congressional requirement that it make advance payments to cover expected health care costs for future retirees.
Postmaster General Patrick Donahoe says the post office is considering its options, including another possible increase in prices.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.