Postal Service Faces Bankruptcy
One of the greatest institutions of our nation, the postal service, is in danger of filing for bankruptcy.
In an effort to hold off on business bankruptcy, the U.S. Postal Service is taking measures to increase revenue over the next year. Starting January 22nd, rates for the agency's two most profitable services will increase. Customers using express mail and priority mail will now spend a higher flat rate boxes and letters. In the past, customers were asked to pay based on the weight of the package.
In total, customers will see an estimated 5 percent increase. Although the price hikes have not yet been completely approved by the Postal Regulatory Commission, it is likely that they will go into effect next year. Without taking serious measures like these, the postal service may fold due to serious competition from private mail carriers.
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