Showing posts with label nytimes. Show all posts
Showing posts with label nytimes. Show all posts

Tuesday, September 6, 2011

Postal Service Soon to be No More?

Postal services have been with us for as long as we can remember. However, the postal service is now on the verge of destruction. Facing a deficit of about $10 million this year, our mailing service could very possibly run out of money by this winter. If they run out of money, they will face a shutdown. The agency has proposed to cut Saturday deliveries, close 3700 post offices, and lay off 120,000 workers. The Obama administration has been pushing legislation to aid the failing postal service, pushing to allow the postal service more time to pay out the $5.5 billion they owe to future health coverage of retirees.
This continuously increasing deficit is a result of the postal service's constant overpaying of millions of dollars into pension funds. In this day and age, everything is done over the internet, e-mail instead of the traditional mail, reading news on websites, and paying bills via web. Since 2006, annual mail volume has decreased 22%. For now, the postal service is quickly running out of money. A solution? Send more letters.