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Re: I'm confused

Too bad that that doesn't cover the actual costs of mailing it. The post office is losing money every year. This is from the right wing media outlet the Huffington Post:

WASHINGTON — The Postal Service ended its fiscal year $2.8 billion in the red, battered by a faltering economy that cut the amount of mail being sent.

Postmaster General John Potter said the agency is making sharp cuts in hours and overtime, but added there are no plans for layoffs. The mail being sent dropped by 9.5 billion items.

"We expect the new fiscal year to be another difficult one," Potter said, adding: "We're not panicking here."

By cutting back on spending the post office had a net operating income of $2.7 billion in 2008, but still ended up in the red because of the requirement for a $5.6 billion payment to a health benefit fund for retirees.

Even so, the $2.8 billion loss was well short of last year's $5.1 billion postal deficit.

The Postal Service does not receive a tax subsidy for its operations

Potter welcomed recent reductions in the cost of fuel _ a major expense for the post office _ and said his agency is continuing to cut overtime and working hours as it seeks to increase efficiency.

He said the agency reduced working hours by 50 million in 2008 and hopes to double that to 100 million hours cut this year.


The USPS is like Amtrak, a poster boy for the government , but doesn't work in the real world.
This is CABL.com posting #258551. Tiny Link: cabl.co/mbfql
Posted in reply to: Re: I'm confused by lazarust326
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