Postal Service Lost $1.9 Billion in Second Quarter
Says it will lose more if Congress doesn't allow some cutbacks
The U.S. Postal Service lost $1.9 billion during its second quarter—and losses will continue mounting if Congress doesn't pass legislation giving the beleaguered mail carrier more flexibility in how it runs its operations, the postmaster general said Friday.
"To return the Postal Service to solvency requires a comprehensive approach, which is reflected in our updated five-year business plan," said Postmaster General Patrick Donahoe.
"The major elements of the plan must be pursued and executed within a short window of opportunity to avoid unsustainable losses and potentially becoming a long-term burden to the American taxpayer," he said in a statement.