Post Office Takes Huge Hit

Published 02/09 2012 11:36AM

Updated 02/09 2012 11:42AM

The U.S. Postal Service took a big financial hit last quarter.

The Postal Service is reporting quarterly losses of 3.3 billion dollars more than during the same period in 2010.

From October through December, losses were 3 billion dollars more than during the same period in 2010.

Declining mail volume and mounting costs for future retiree health benefits is hurting the mail provider.

USPS officials are warning of suspending some postal operations unless Congress acts to address some of the organization's monetary problems.

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