Postal Woes

The Postal Service was $3 1/2 billion in the red for the third quarter and they say they may not be able to make a required payment for future retiree health benefits. Losses for April through June were $1.1 billion more than the post office lost in the same period a year ago.

To stem the losses, postal officials have proposed raising rates, cutting out Saturday mail delivery and eliminating advance payments for retiree health benefits.

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