U.S. Postal Service delivers record loss of 15.9 billion

Officials blame loss on retiree benefits

The Federal Agency delivered a record loss for the 2012 fiscal year of 15.9 billion dollars.

That's compared to a 5.1 billion loss the year before.

It happened despite what the postal service calls a year of record productivity and an 8-percent growth in the shipping and package business.

Officials blame the record loss on retiree health benefits.

They're planning to cut 150,000 workers and raise the price of first-class stamps.

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