First Class Postage Stamps Reduced to 47 Cents
I have been on the planet for a while but I have never experienced this before. The cost of a first class stamp from the U.S. Postal Service went down last Sunday by two cents. You read that right. The cost to mail a first class letter is now 47 cents and not 49 cents as it was last Saturday. First gas prices and now stamps? Has Hell frozen over? The reduction was explained as being the result of an expiring surcharge that went into effect in January of 2014 to help the Postal Service recoup its multi-billion dollar losses. The reduction is going to cost the Postal Service some more money in that they will be losing a projected $2 billion by forfeiting the extra two cents a stamp.
For those of you, like me, who purchased "forever" stamps at 49 cents a stamp, we are simply out of luck and will be forced to use them up at the 49 cent rate. I guess you could hold onto them for the time when the postal service decides to raise the rate to 49 cents again.
At a $2 billion loss with stamps at 47 cents, don't be surprised to see a rate hike soon.