The Postal Service Service Is Going Broke.

Sagging under the weight of skyrocketing labor costs, the U.S. Postal Service is nearly out of cash. The agency posted a $3.8 billion loss last year and it has projected cumulative losses of $238 billion over the next decade. On Thursday, the independent panel that oversees the service denied a proposal to increase the cost of mailing a letter from 44 cents to 46 cents, dealing a further blow to an agency that has struggled to adapt in an increasingly paperless America. With the latest setback to restructuring, some pundits are suggesting radical ways to rethink the venerable service--including complete privatization.Link