“Postal Cliff”: America’s postal service had a record loss of $15.9 billion for the fiscal year that ended on September 30, 2012

Soon after the President Election ended last week, Americans lawmakers in Washington DC have been working really hard to prevent the end of 2012 tax increases and spending cuts, a.k.a. “fiscal cliff.” At the same week, America’s postal service is also facing its financial problems which we call it “postal cliff.”  The postal service had a record loss of $15.9 billion for the fiscal year that ended on September 30, 2012.  Compared to one year ago, the total lost was at $5.1 billion.

America’s postal service income mostly pulled from the sale of stamps, packaging boxes, and other products such as passport registrations.  With the advances in technology, regular mail volumes have dropped significantly in recent years as more consumers communicate via email online.

The latest postal setback was mainly due to payments that were made to fund for future retiree health benefits.  The total cost of two payments to prefund retiree health benefits totaled about $11 billion.

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regular mail volumes have dropped significantly in recent years as more consumers communicate via email online.