Postal Service

U.S. Postal Service Ends Efforts To Stop Saturday Delivery Service

Submitted by News Desk 2 on Wed, 04/10/2013 - 20:09

Washington, D.C. -

The U.S. Postal Service has said that it has stopped pushing to end its Saturday delivery service in order to close budget shortfalls because congress couldn't pass legislation.

The Postal Service is a branch of the federal government but it run like a private corporation without any taxpayer money.

In the past, the USPS operated at a profit, but as the internet boomed as well as digital signatures and new security methods, along with coupon and spam mail, the Post Office began loosing money and now operates with $15 billion in debt hanging over its head.

U.S. Postal Service About To Default; Struggles To Make Ends Meet

Submitted by News Desk 2 on Fri, 07/13/2012 - 13:23

According to the U.S. Postal Service, it is about to default on a required $5.5 billion payment, and will likely miss another $5.6 billion payment at the end of September. Postal spokesman Dave Partenheimer said "Without congressional action, we will default on both payments."

Congress is apparently willing to allow the postal service to default, with the House of Representatives saying they are not going to take up any action to deal with the problem until the fall at the soonest.

USPS Delivers Rain Or Shine, But Now Slower; Postal Service Making Cuts & Changes To Stop Money Loss

Submitted by News Desk 2 on Sun, 12/04/2011 - 13:55

Washington, D.C. -

The United State Postal Service has announced it is enacting cuts to service and other operations in an effort to save $3 billion. It said it is taking this step because Congress has failed to intervene with a rescue package.

The US Postal Service is a part of the federal government, but is supposed to be fully self supporting, and has been in years past.