The US Postal Service said its 2013 fiscal-year loss was cut to $5 billion from $16 billion in 2012 due to growth in shipping and packages.» Read More
The US Postal Service has suffered a setback in its plan to end Saturday delivery of first-class mail, as Congress advanced a bill requiring six-day delivery.
People still want their Saturday mail -- perhaps because they feel like they've lost another vital service during tough economic times.
If lawmakers don't act, the US Postal Service could run out of money "between six months and a year" and there could be a period of time when mail isn't delivered, policy and economics experts said.
The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease the terms of prepayments into a retiree health care fund and eliminate general mail delivery on Saturday.