The US Postal Service (USPS) recently reported its third quarter financials, tallying a loss of $3.1 billion. That is 21 percent higher than the agency’s shortfall during the same period last year and the latest sign of the Post Office’s increasingly dire state.

At its core, the Post Office is sinking. The $18.8 billion it earned in revenue during the third quarter was no higher than its earnings in the previous year. Meanwhile, its expenses were $22 billion or 2.9 percent higher than the same period last year due to rising employee compensation costs. The Post Office has $15 billion in debt, its legal maximum, and has lost $6.2 billion this year—so far…. (Read more)