The United States Postal Service reported a record $15.9 billion loss in fiscal year 2012. That compares to a $5.1 billion loss last fiscal year.
Bloomberg reports that the postal service is forecast to run out of cash by Oct. 15, 2013 when it is scheduled to make a workers compensation payment to the Labor Department. The Postmaster General Patrick Donahoe painted a grim picture when he announced the loss.
Originally published on Thu November 15, 2012 3:16 pm
There has been no dearth of post-election Republican self-flagellation.
Louisiana Gov. Bobby Jindal, on the eve of heading out to a meeting of Republican governors in Las Vegas, warned the GOP to "stop being the stupid party." At the gathering Wednesday night, he leveled more harsh criticism at party presidential candidate Mitt Romney.