Postal Service says red ink for 11th year in row as mail slumps.
WASHINGTON» The beleaguered U.S. Postal Service is reporting a financial loss for the 11th straight year, citing declining mail volume and costs of its pension and health care obligations.
It is pleading for more freedom to raise stamp prices to help keep pace with consumer demand for ever-quicker package deliveries.
The 2017 loss came after a double-digit increase in package delivery was unable to offset drop-offs in letter mail, which makes up more than 70 percent of total postal revenue.