Another $8 Billion down the drain

[dellinger63]

The U.S. Postal Service (USPS) accrued a record loss of $8.5 billion in fiscal year 2010, up $4.7 billion from 2009, highlighting financial pressures that are not expected to improve in 2011 or in the “foreseeable future,” according to the Government Accountability Office (GAO).

The loss was mainly driven by employee benefits and compensation costs, including a $5-billion-plus congressionally mandated retiree health benefits payment and a drop in mail volume.

You can't make this stuff up!

http://www.cnsnews.com/news/article/...record-loss-85