The United States Postal Service is scheduled to increase the price of a stamp next week by a nickel from 68 cents to 73 cents.
How big of a deal is a five-cent increase? Connecticut Sen. Richard Blumenthal says it’s one step closer to killing off the post office.
The USPS is still losing money, big time. In the first quarter of this year, the post office lost more than $2 billion. Part of their solution is to charge more for postage.
This latest price increase is one in a series that has driven the stamp price up more than 46% since 2018.
“There is no denying that the Postal Service needs more revenue, but there are better ways to gain that revenue,” Blumenthal said.
The Senator says that since 2006, the number of letters mailed in this country has been nearly cut in half, and rapid price hikes on stamps will only worsen matters.
Poster Comment:
I remember the 5 cent first class stamp.