post office budget shortfall

USPS to Cut Saturday Mail Delivery to Trim Budget Shortfall

he U.S. Postal Service will stop delivering mail on Saturdays but continue to deliver packages six days a week under a plan aimed at saving about $2 billion annually, the financially struggling agency says. The change will begin in August.

Could Same-Day Delivery Save the Post Office?

By 2015, the U.S. Postal Service is expected to be losing money at a rate of $20 billion a year. But the Post Office has a plan intended to help stop the bleeding -- or at least slow it down. Next week, it will begin testing a new same-day delivery service called "Metro Post."

The Post Office's Plan: Worse Service, Higher Prices

The USPS is still running in the red, and facing an $18.2 billion annual deficit as early as 2015, The Postal Service's solution in a nutshell: Give customers worse service, and charge them more for it. Where have we heard this before? (Hint: the airline industry.)

The Post Office Is Doomed. Some Say Good Riddance

If the USPS went into bankruptcy, would anyone care? Not according to former UPS board member Gary MacDougal, who argued in a scathing attack last week that "the rapid growth of email, online bill paying," and private parcel delivery firms like UPS and FedEx has made the Post Office obsolete. Statistics suggest he's right.

Without a Makeover, Postal Service Is Doomed

On Tuesday, Postmaster General Patrick Donahoe went before the Senate Homeland Security and Governmental Affairs Committee to plead for a government bailout. USPS is losing $9.2 billion a year and is currently on track to lose $20 billion annually by 2015. How can it be saved?