WASHINGTON — The price of stamps went down two cents Sunday. You should be happy. Because the U.S. Postal Service isn’t. First class stamps went from 49 cents to 47 cents on Sunday. The last time the postal service dropped the price of stamps was 97 years ago in 1919. The U.S. Postal Service said that three years ago, Congress allowed the postal service to collect a surcharge on the price of stamps to compensate for stop big losses due to the Great Recession. The act was set to expire when the surcharge accounted for $4.6 billion in revenue lost during the Great Recession. However, Postmaster General Megan Brennan said the price drop will cost the postal service $2 billion in losses a year and could be a financial disaster. Normally, stamp prices are tied to inflation but she said there hasn’t been any inflation for several years.
Monday, April 11, 4:30 p.m.
