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Stamps Might Hit 50 Cents

Postal Service cites need for quick action from Congress
By John Johnson,  Newser Staff
Posted Feb 16, 2012 6:58 PM CST

(Newser) – 50-cent stamps, anyone? That's one of the changes the postmaster-general wants Congress to act on quickly if the service is to survive, reports the Wall Street Journal. That increase of a nickel for a first-class stamp is actually one of the minor proposals from Patrick Donahoe. He also laid out plans to cut 150,000 jobs (mostly through retirements), to extend delivery times for long-distance mail, and to have the postal service cut ties with the federal health benefits program.

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Those proposals are on top of an expected end to Saturday delivery. Without the fixes, the USPS will have yearly losses of about $18 billion by 2015, Donahoe told Congress. "These prospective losses would be unsustainable and would cause the Postal Service to become a long-term burden to the American taxpayer." He spelled out the dire scenario to lawmakers today—in a letter. (Read more USPS stories.)

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