The United States Postal Service ended its second quarter with a net loss of $1.9 billion....Which adds further to the government monopoly's woes;
"We're quite obviously in a deep financial hole," Joseph Corbett, USPS chief financial officer and executive vice president, told reporters in a briefing.
Liabilities totaling $64 billion exceeded current assets by $42 billion, adding to the agency's dire financial situation, the agency said in a statement.Which some continue to ignore;
The USPS has sought legislative relief to let it modernize its business service offerings, restructure the future retiree health-fund payments and shift to a five-day mail delivery service.
Postmaster General Patrick Donahoe said he was disappointed in Congress' failure to act.Is that also a libertarian myth?