2 Cents Could Save the USPS From Insolvency

Tuesday, July 06, 2010 , 0 Comments

The USPS is still in trouble.


The U.S. Postal Service proposed raising the price of first-class stamps by 2 cents, to 46 cents, while rates for periodicals increase 8 percent and parcels 23 percent to narrow a deficit projected at $7 billion this year.

The increases would generate $2.3 billion in the first nine months of 2011, the service said today in a statement. Increases, which must be reviewed by Postal Regulatory Commission, would take effect Jan. 2.

“We’re doing this because the Postal Service really faces a serious risk of financial insolvency,” said Stephen Kearney, a senior vice president with the Postal Service.

I'm still partial to the "blame Sarbanes-Oxley" refrain but that's just me.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.