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US Postal Service to raise shipping prices on certain orders


US Postal Service to raise shipping prices on certain orders

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Photo: CNN

The United States Postal Service (USPS) plans to increase shipping prices on certain orders beginning today.

The move comes into effect as part of a series of standards changes which also include an increase in shipping times for certain first-class packages and mail from one-to-three days to one-to-five days.

These changes come as part of a proposal to reduce USPS costs by $160 billion over the next decade in order to stabilize the service’s financial losses, totaling roughly $90 billion since 2007. Under the change, expect the cost of shipping a package to increase anywhere from 25¢ to $5 depending on the size of the package and the distance it is being shipped.

These debt problems are a symptom of the US’ broader debt—an issue that has been coming to a head in recent days. After an emergency stopgap on its debts was passed on September 30, the US has until October 18 to officially raise its debt ceiling or risk a default that would hobble the country’s economy and cripple public institutions such as the USPS. A collapse of the USPS would likely spell disaster for many businesses across the US despite the prevalence of private shipping companies.

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