KBTX | Bryan & College Station, TX | Aggieland News

U.S. Post Office Suffers $1.9 Billion Second Quarter Loss

By: Associated Press Email
By: Associated Press Email

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 This material may not be published, broadcast, rewritten or redistributed.)


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