USPS Faces $25B Loss, Seeks Borrowing Cap Raise
Durham News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. Postal Service is facing a severe financial crisis, with a staggering $25 billion deficit over three years and a potential cash shortage by fall 2026. First-class mail volumes have plummeted since 2008, with digital alternatives and competitors like UPS and FedEx gaining ground. Postmaster General David Steiner warned of further stamp price increases and potential service cuts, including Saturday delivery and small post office closures. The USPS is seeking a borrowing cap increase for fleet upgrades and proposing an 8% surcharge on priority packages to cover fuel spikes.
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