Carmel, CA Postal Service Continues Its Downward Spiral, But What About The Retirees?

There seems to be a continuous stream of bad news  coming out of the United State Postal Service (USPS), with no solution to their myriad problems in sight.  People just aren't using snail mail as much as they used to, and yet the postal service has maintained the same massive infrastructure.  The USPS announced this week that it had a $5.2 billion loss in the June 30 quarter.  Yes, the quarter, not the year, you read that right.  This is the widest loss since the post office started reporting quarterly earnings in 2007.  It's up more than $2 billion from the $3.1 billion loss it posted in its third fiscal quarter last year ending on June 30, 2011.  The Postmaster General, Patrick Donahoe, said it will do whatever is necessary to maintain operations even if it has to default on making a multi-billion dollar payment to its retiree fund which is due shortly.  "We will do everything we need to do to make sure the mail is delivered," he told Congress, who he is urging to bail out the agency.  The postal service, once an icon of American Society, now says it may become the equivalent of a deadbeat.  It says it will pay employees and critical vendors and not pay many others.  I hope the House does something soon (the Senate passed postal overhaul regulation but it has stalled in the House).  "I'm not sure how much more evidence leaders in the House of Representatives need before they realize that the Postal Service is in dire straits," said Senator Tom Carper (Democrat, Delaware) one of the authors of the Senate Bill.  They better do something soon so re