|Postal Service Warns of Disruptions in Day-to-Day Service|
|Posted by KSJB News on 8/10/2017 11:49:00 AM.|
(AP) - The U.S. Postal Service is warning that it will likely default
on up to $6.9 billion in payments for future retiree health benefits
for the fifth straight year. It is citing a coming cash crunch that
could disrupt day-to-day mail delivery.
post office says it expects cash balances to run low by October.
Postmaster General Megan Brennan stressed an urgent need for federal
regulators to grant the Postal Service wide freedom to increase stamp
prices to cover costs. She points to continuing red ink due to
declining first-class mail volume and the expensive mandates for
Postal Service on Thursday reported a quarterly loss of $2.1 billion,
compared to a $1.6 billion loss in the same period last year. That
came despite double-digit growth in package delivery.