The price of a first-class stamp is about to drop two cents, and the Postal Service is not happy about it:
Absent Congressional or court action to extend or make permanent an existing exigent surcharge for mailing products and services — including the Forever stamp — the Postal Service will be required to reduce certain prices on Sunday, April 10, 2016. This mandatory action will worsen the Postal Service’s financial condition by reducing revenue and increasing its net losses by approximately $2 billion per year.
“The exigent surcharge granted to the Postal Service last year only partially alleviated our extreme multi-year revenue declines resulting from the Great Recession, which exceeded $7 billion in 2009 alone,” said Postmaster General and CEO Megan J. Brennan. “Removing the surcharge and reducing our prices is an irrational outcome considering the Postal Service’s precarious financial condition.”
An order from the Postal Regulatory Commission (PRC) requires the 4.3 percent exigent surcharge to be reversed after the Postal Service has collected surcharges totaling $4.6 billion. As outlined in a notice filed with the PRC [Thursday], that amount is expected to be reached by April 10th.
She keeps using that word. I do not believe it means what she thinks it means:
ex·i·gent, adj. 1. requiring immediate action or aid; urgent; pressing. 2. requiring a great deal, or more than is reasonable.
Decide which of those you like better, and compare to this:
Postal Service prices for Mailing Services are capped by law at the rate of inflation as measured by the Consumer Price Index for all urban consumers (CPI-U). However, the law does allow for exigent pricing (price increases beyond the CPI-U cap) due to extraordinary or exceptional circumstances.
On the upside, this is the second time I’ve had reason to mention the Postmaster General, Megan Brennan, in a mere two weeks.