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The economy goes postal

As we all know, our government is cutting costs all around the board to help get our economy back in shape.  That's good.  We need that.  But the most recent cut will directly affect the way we mail.  The US postal service has announced a $2.1 billion cost saving proposal.  Unfortunately, that means 28,000 jobs will be cut, next day shipping will be eliminated, and most of the 250 mail processing facilities will be closed.  These changes may occur as early as April of 2012.  The USPS is extremely viable to our economy but they've racked up $5.1 billion dollars in debt and are expected to make a $5.5 billion dollar payment in mid December to pay for healthcare for their employees.  A lot of the income scarcity for the USPS is due to the fact that many consumers that normally mail bills, letters, etc., no longer deal with hard copies and use the internet  instead.

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12/05/2011 5:19PM
The economy goes postal
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