WASHINGTON (AP) -- 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.<br />
The loss for the spring quarter, which ended June 30, was significantly higher than the $740 million loss for the same three-month period last year. 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. The loss came despite a 2 percent increase in operating revenue compared to last spring.<br />
"Due to continued losses and low levels of liquidity, we've been extremely conservative with our capital, spending only what is deemed essential to maintain existing infrastructure," said Joseph Corbett, the Postal Service's chief financial officer.<br />
The Postal Service is an independent agency that receives no tax dollars for its day-to-day operations but is subject to congressional control. It has asked to end most Saturday deliveries, a request that is languishing in Congress amid opposition by postal unions. The agency also is seeking to eliminate the congressionally mandated $5.7 billion annual payment for future retiree health benefits.
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
House Republican leaders rallied around one of their own, Whip Steve Scalise, on Tuesday after he said he regrets speaking 12 years ago to a white supremacist organization and condemns the views of such groups.
President Vladimir Putin's chief political foe was convicted along with his brother on Tuesday in a fraud case widely seen as a vendetta by the Kremlin, triggering one of Russia's boldest anti-government demonstrations in years.
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