Peel and Weep: Stamps Costing 2 Cents More Monday

By: Associated Press
By: Associated Press

WASHINGTON -- Get ready to shell out a couple more pennies to mail a letter. Starting Monday, the cost of a stamp goes up to 44 cents.

Those who bought Forever stamps before Monday's increase will pay the lower rate. Postal officials estimate the increase will cost the average household $3 a year.

There may be a run on 2-cent stamps, but it likely won't be enough to lick the U.S. Postal Service's budget shortfalls.

So far this year, the post office is $2.3 billion in the hole. The agency is asking Congress to allow it to cut out Saturday delivery. It's also offering early retirement to workers, working to streamline delivery and freezing officer and executive pay.

Still, the possibility remains that the post office could run out of money before the end of the budget year, Sept. 30.

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