Postal Service Reports $2.1B Quarterly Loss
The United States Postal Service continues to see financial problems with a reported net loss of $2.1 billion in the third quarter, an increase of $573 million as compared to the same time last year. According to a press release, first-class and marketing mail decreased $422 million and $150 million over the prior year quarter.
The Postmaster General said, “our financial situation is serious, but solvable. The continuation of aggressive management actions, and legislative and regulatory reform, will return us to financial stability.”
Fox Business reports the Postal Service has $15 billion in outstanding debt.