Postal News--The US Postal Service has released its Integrated Financial Plan for the fiscal year that began on October 1. The plan forecasts an operating loss of $2 billion, down from the $2.4 billion loss in 2012, and the $2.7 billion the USPS lost in 2011.

The news media have mostly ignored those numbers, preferring the much more impressive $15.9 billion "loss" that Congress has arbitrarily slapped on the agency's books. You would be hard pressed to find a major news outlet that would report that $13.5 billion of that "loss" is completely fictional, given that the money never changed hands, and never will! Read more!
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