WASHINGTON — The US Postal Service says it lost $1.9 billion over the last three months, and warns that losses will continue to mount without help from Congress.
The loss for the financial quarter ending March 31 was narrower than a $3.2 billion loss for the same period last year.
Nevertheless, the Postal Service continues to lose money at a rapid pace due to a decline in mail volume and a Congressional requirement that it make advance payments to cover expected health-care costs for future retirees.
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