U.S. Postal Service reports record $15 billion in losses

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November 16, 2012, 5:34 am
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(NECN) – It’s more bad news for the U.S. Postal Service.

The cash-strapped agency reports a record loss of 15-billion dollars so far this year; that's triple what it lost last year.

The majority of the loss comes from the future retiree health fund, making up more than 11 billion of the total loss.

Officials warn if the post office does not receive legislative help from Congress, annual losses could exceed 21-billion dollars by 2016.   

Tags: USPS, post office, Losses, united states postal service
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