USPS loss swells to $2B in 2Q

The U.S. Postal Service lost $2 billion this spring despite increasing its volume and charging consumers more money to send mail, officials said Monday.

The USPS posted a much higher net loss than the $740 million loss in the same quarter a year earlier, according to Fox Business.

The agency blamed increases in compensation and benefit costs for the red ink and said it would be unable to make a congressionally mandated payment of $5.7 billion this September for health benefits for future retirees.

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