A Lady's Ruminations

"Jane was firm where she felt herself to be right." -Jane Austen, Pride and Prejudice

Tuesday, November 15, 2005

69 billion in Annual Revenue?!?!

AP: First-Class Stamps to Go Up 2 Cents---

WASHINGTON - The cost of mailing a letter will increase to 39 cents on Jan. 8.

The Postal Service's board of governors approved the two-cent increase in first-class postal rates late Monday. It is the first increase since June 2002.

The cost of mailing a postcard will increase a penny, to 24 cents, as part of the roughly 5.4 percent, across-the-board hike in most rates and fees.

The increase fulfills a requirement, passed by Congress in 2003, that the Postal Service establish a $3.1 billion escrow account. Congress is to determine later how to spend that money. The Postal Service said without the mandate it would not have had to raise rates next year.

The Postal Service has more than $69 billion in annual revenue.
So, why can't the Postal Service use some of that $69 billion to fill that little escrow account? Why must we make up the difference?

Perhaps the Postal Service ought to stop sponsoring Leftist Lance and his little bicycling team?