Bleeding red ink at the post office

How bad are things at the Postal Service.

It heralded its “efficiency efforts” today while announcing it loses $244 every second of the day.

The Postal Service says it lost $1.9 billion in the second fiscal quarter, after losing $1.5 billion in the first quarter of its fiscal year.

Do the math on that:

$633 million per month

$21 million a day

$879,000 every hour

$14,660 every minute

$244 every second

The National Association of Letter Carriers today said revenue increased in the quarter.

Association spokesman Phil Dine said the Postal Service report “shows the USPS moving sharply towards breaking even” compared to previous years, the Washington Post said.

  • Mark Gisleson

    Very misleading. The USPS turns a profit except Congress forced them to pre-fund the next 75 years of retirement payments, something no other organization on earth has to do.

    Again, remove that absurd retirement funding requirement, and the USPS is turning a profit.

    Republicans in Congress stuck a knife in their back on behalf of UPS and FedEx.