US Postal System Lost $354 Million During Q4 2013

The US Postal Service continues to lose money, posting a $354 million loss over the past three months, according to Postmaster General Patrick Donahoe. While still steep, those losses don’t compare to the $1.3 billion the agency lost during the same quarter the previous year. In an effort to stop the bleeding, the cost of a first-class stamp rose from 46 to 49 cents on Jan. 26 and Congress currently is considering a bill that would end Saturday mail delivery.