Losses At The Postal Service More Than Double03:40

This article is more than 1 year old.

The United States Postal Service announced on Friday that it lost $1.3 billion in the second quarter of the year, more than double its losses at this time last year. The agency blamed a continuing drop off in traditional mail, and higher costs for retiree benefits. The postal service also has a deal to deliver Amazon packages, and President Trump has criticized that deal, saying it is costing the post office "massive amounts of money."

Here & Now's Jeremy Hobson speaks with CBS News' Jill Schlesinger (@jillonmoney), host of "Jill on Money" and the podcast "Better Off, to look at the postal service losses and fact-check the president's claim.

This segment aired on May 14, 2018.

Support the news

+Join the discussion

Support the news