U.S. Postal Service Proposes Price IncreasesPosted: July 7, 2010
The cost of mailing a letter will likely go up soon. The U.S. Postal Service announced yesterday that it wants to increase the price of a first class postage stamp by another 2 cents or 4.5% as of January, 2011. The Postal Service cites on-going and worsening financial difficulties as the main force driving prices ever upward:
“Faced with plummeting mail volume traced to the recession and increased use of the Internet, the Postal Service is projecting a deficit of nearly $7 billion for the next fiscal year. Despite eliminating millions of work hours and reducing expenses by more than $1 billion every year since 2001, a budget gap remains….
….’There is no one single solution to the dire financial situation that the Postal Service faces…These proposed rate adjustments are moderate and part of a fair and balanced approach to insuring mail service for all Americans well into the future.'”