46 Cent Stamp Shot Down
Just the other day I mentioned to my wife that the Postal Service was asking for another rate increase. Yeah, another one. The proposal included raising the price of a first-class stamp two pennies to 46 cents. Her response: “That does it. We’re not going to send out Christmas letters this year!” When it comes to rate increases, it’s usually “What the Postal Service wants, the Postal Service gets”.
But not this time. Today, postal regulators shot down the request. It said the Postal Service’s recent financial problems were caused by a flawed business model and not the recent recession. The USPS continues to lose money, in a large part because people aren’t using snail mail as much. We’re communicating by email, paying our bills online, faxing, and using FedEx and UPS more.
Today’s ruling not only means a first-class stamp will stay at 44 cents (for now at least). It also means the Bradshaw Christmas letter may still go out.
- Postal Service denied rate hike (money.cnn.com)
- Panel denies Postal Service price hike plea (abclocal.go.com)
- Stamps stay 44 cents as panel rejects post office price hike (usatoday.com)