U.S. Postal Service loses $5.1 billion in fiscal 2011
Reuters
WASHINGTON- The U.S. Postal Service, recording a net loss of $5.1 billion for its 2011 year, warned on Tuesday that it could run out of cash by the end of fiscal 2012 if Congress did not offer relief.
The rise of e-mail and online bill payments combined with the recession drove total mail volume down 3 billion pieces, or 1.7 percent, from 2010, the agency said in a statement.




November 15, 2011
Government/Politics