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The cash-strapped U.S. Postal Service announced Tuesday that it will increase postage rates on Jan. 22, including a 1-cent increase in the cost of first-class mail, to 45 cents.
Under the law the post office cannot raise prices more than the rate of inflation, which is 2.1 percent, unless it gets special permission from the independent Postal Regulatory Commission. The PRC last year turned down such a request.
The post office lost $8 billion in fiscal 2010 and the bottom line is likely to be even worse when final figures for fiscal 2011 are released next month.
The rate increase will make only a small dent in those losses, caused by the recession, movement of mail to the Internet, and a requirement that the agency fund future retiree medical benefits years in advance.
Other proposals to cut the losses have included reduction of mail delivery from six to five days a week and closing thousands of offices across the country.
The current 44-cent rate has been in effect since May 2009.
Please tune in Sunday to www.blogtalkradio.com/Lennis for my cooking show. We will be preparing on air can you believe it, different dishes pass down threw the family. I have refine the dishes to make them a bit more economical and quick and easy. Food cost are so high these days, and we live in such busy times, that is it understandable for quick and easy preparations. For lunch or dinner or weekend meals.
Call in if you like with you own recipes to share 213-325-3434. We are going to have a lot of fun, and laughter, and stories of old, how back in the day food was prepare and now.
SHOW: “Talk 2 Me”, www.blogtalkradio.com/Lennis 6:00 – 7:00pm PST Sunday evening