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Postal Service: Red ink for 11th year in row as mail slumps
Federal Times: WASHINGTON (AP) — The beleaguered U.S. Postal Service reported a financial loss Tuesday for the 11th straight year, citing declining mail volume and costs of its pension and health care obligations even as it predicted another strong holiday season of package deliveries.
It pleaded for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker deliveries from online shopping.
Without help, “our financial results will continue to deteriorate and likely at an accelerated rate,” said Postmaster General Megan J. Brennan. “We cannot generate enough revenue or cut enough costs to pay all of our bills.”
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