Billions Lost In The U.S. Post Office

The U.S. Postal Service (USPS) says they have a loss of $2.7 billion for fiscal year 2017.

This is the 11th straight year the USPS has suffered billions of dollars in losses.

Forbes.com reported that the reasons the USPS has been in the red is because they have been lacking in controlling employing cost and the USPS’ latest $4.1 billion in unpaid employee retirement related expenses are factored into their losses.

Another big one, is the Government retired pension plan for the USPS workers. This is a major concern because $121 billion in unfunded liabilities was reported earlier this year by Government Accountability Office.

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