Post office losses widen to $5.6 billion this year

Post office losses widen to $5.6 billion this year

As the fiscal year ended for the U.S. Postal Service in September, their total losses over the past 10 years have hit $62.4 billion, as reported by Market Watch. The government-sponsored mail carrier reported “controllable” earnings at $610 million this year, down from $1.2 billion last year. As this systematic financial crisis mounts, Postmaster General Megan Brennan says legislators in the Oversight committees of the U.S. House and Senate need to orchestrate postal reform to get this department back on track. The USPS is often forgotten in a country with many problems in need of fixing. However, this is a government agency that is costing billions to operate and contributing to America’s precarious financial situation.

 

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