U.S. Postal Service Still Bleeding MoneySubmitted by McWilly on Mon, 08/11/2014 - 13:56
A quick update on the status of the employment agency that is the U.S. Postal Service:
The Wall Street Journal is reporting that the government agency has posted yet another massive loss in the latest fiscal quarter, to the tune of almost $2 billion, despite raised delivery rates and expanded package delivery.
Zero Hedge shares my scorn for this bloated and outdated arm of government, and has helpfully taken the poignant excerpts from the WSJ article out for us to read with (mild) shock and fury.
From the WSJ: “The USPS said its total liabilities were $67.16 billion at the end of the period, compared with $23.16 billion in assets.”