Want to send granny a card? It might cost you a bit more next year.
The U.S. Postal Service on Tuesday proposed a 2-cent increase in the price of a first-class stamp, bringing the cost to 46 cents. The change, if approved, will go into effect on Jan. 2.
The Postal Service is trying to dig itself out of a deep financial hole. It projects a $7 billion deficit next fiscal year.
The agency’s revenue has been crushed. Last year, the amount of mail sent declined 12.7%. Businesses hit by the recession have cut back on mailings and more people continue to turn to the web to send their messages.
FULL STORY: http://money.cnn.com/2010/07/06/news/economy/postal_rate_increase/index.htm
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