Via Fox News:
The ailing U.S. Postal Service is reporting quarterly losses of $5.2 billion.
From April to June, losses were $2.1 billion more than during the same period in 2011.
The mail agency said it is being hurt significantly by mounting costs for future retiree health benefits. Those expenses made up $3.1 billion of the post office’s quarterly loss.
Remember this does not include the the additional $5.2 billion in pension prepayments that were due to the Treasury, but the USPS defaulted last week. They will run out of cash to operate in a few months. Get ready for the next great bailout.
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