Postal Service is on its last legs, with little help in sight

The L.A. Times reports:

the U.S. Postal Service, is in doubt. The Postal Service lost $1.9 billion between January and March, and $15.9 billion last year. The 238-year-old institution loses $25 million each day, and has reached its borrowing limit with the federal Treasury. Daily mail delivery could be threatened within a year, officials say. Americans increasingly go online to write letters, pay bills and read magazines, and mail volume has fallen by a quarter since 2006, according to the Government Accountability Office. The decline is expected to continue.