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U.S. Postal Service Lost $1.5 billion In The First Three Months Of 2015

U.S. Postal Service lost .5 billion in the first three months of 2015

The U.S. Postal Service posted a net operating loss of $1.5 billion in the first quarter of 2015, which is actually an improvement from the $1.9 billion it lost in the first quarter of 2014.

USPS has been bleeding money for years, in part because of lower mail volumes, but also because of the huge benefit costs for its retired workers that it is required by law to fund upfront. Democrats in particular have argued that this prefunding requirement is making it impossible for the mail carrier to operate at all.

This photo taken July 27, 2012 shows a mailbox outside a US Post Office in Lawrence, Mich. The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency's solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink. Credit: AP

AP

USPS said that without the requirement to prefund retiree health benefits, its net loss would have only been $44 million, not $1.5 billion. More

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