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FREEDOM LINE BLOG: The Postman Always Begs Twice

In case you missed the news, the United States Postal Service -- still clinging to the hope that e-mail…

The Postman Always Begs Twice

In case you missed the news, the United States Postal Service -- still clinging to the hope that e-mail thing is a fad -- released yet another series of dismal financial numbers today. From the Hill:

The U.S. Postal Service announced Thursday that it lost $3.3 billion in the first three months of the fiscal year as the agency continues to hemorrhage money.

The majority of the losses, some $3.1 billion, occurred because the USPS had to pre-fund its retirement plan.

... The USPS might run up against its debt ceiling this fall, forcing action on the bills.

... [Congressman Darrell] Issa noted that USPS has said that even if it no longer needs to pre-fund its employee benefits, it will still reach its debt limit in the fall.

Keep in mind that the USPS lost $8.5 billion in 2010 and an…[more]

February 09, 2012 • 03:13 pm

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— The Editors, The Wall Street Journal

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