Post Office Going Out of Business?

Time Magazine reports, "Neither snow nor rain nor heat nor gloom of night will keep your mail carrier from making the daily rounds, promises the U.S. Postal Service's unofficial motto — but the economy might."

According to an article by reporter Laura Fitzpatrick, "With 9.5 billion fewer letters and packages delivered in the 2008 fiscal year compared with 2007, the biggest mail volume decline in history has contributed to the agency's $2.8 billion loss for the year. That partly explains why shipping prices will rise 5% this month (a bigger hike than all shipping increases in 2008), with a stamp price jump to follow in May."

In a related story, Bill McAllister reports in the January 19 edition of Linn's that the Post Office is looking at cutting back to three, four, and/or five day deliveries as a way of reducing costs.

The Time article goes on to say, "The decline could also put your local letter carrier out of a job, and it has even stoked fears that the centuries-old Postal Service could one day go the way of the telegraph."

To read the entire article, click here.