U.S. Postal Service Lost $1.5 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.
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