USPS loses 5.2 billion in last quarter
Lost 57 million per day
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| Post Master General, Patrick Donahoe. Courtesy: USPS |
The United States Postal Service (USPS) has lost lots of money in the last quarter. The agency reported loss of 5.2 billon dollars in the last quarter. The USPS is getting closer and closer to bankruptcy. The USPS and Post Mater General, Patrick Donahoe said it is because of congress. The USPS has been asking congress to pass a bill that would, eliminate Saturday delivery; that would cut cost significantly. The bill currently waiting to passed would affect rural communities, if not changed. In April the senate passed a bill giving the debt driven agency 11 billion dollars. The USPS tried this earlier but with a large public out pouring, and protest, the agency decide to keep many open. To save cost they just changed operation hours. The real reason behind all of this debt is declining mail value. So far this year, the USPS has lost 11.6 billion. Many people now use e-mail, it's instant, fast and effective. How much junk mail do you get? For many people its more than the amount of letters they get. Vote now on the homepage and estimate how much junk mail you get.
Sources:
Patrick Donahue. N.d. Photograph. Patrick Donahue, Post Master Genral. USPS. Web. 11 Aug.
Yen, Hope. "Mail Service Edges Closer to Bankruptcy." The Boston Globe 10 Aug. 2012: n. pag. Print.
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