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Postal Service Still Losing Money

Postal Service
Posted at 12:58 PM, Feb 09, 2017
and last updated 2017-02-09 12:58:00-05

WASHINGTON (AP) - The U.S. Postal Service says it lost $200 million during the holiday season.

That's despite a strong quarter of package shipping and expanded use of vote-by-mail in the November presidential election.

The results reflect continued erosion in the delivery of first-class mail, as well as expensive mandates for pre-funding of its retiree health care obligations.

Legislation in 2006 required the post office to fund 75 years' worth of retiree health benefits. The Postal Service has now lost money for 10 consecutive years.