Frixxxx
Moderator
- Reaction score
- 130
Post Office Might Miss Retirees' Payment
:blink::blink:
While lawmakers continue to fight over how to fix the ailing U.S. Postal Service, the agency's money problems are only growing worse.
The Postal Service repeated on Wednesday that without congressional action, it will default—a first in its long history, a spokesman said—on a legally required annual $5.5 billion payment, due Aug. 1, into a health-benefits fund for future retirees. Action in Congress isn't likely, as the House prepares to leave for its August recess.
Post Office Might Miss Retirees' Payment - WSJ.com
:blink::blink:
While lawmakers continue to fight over how to fix the ailing U.S. Postal Service, the agency's money problems are only growing worse.
The Postal Service repeated on Wednesday that without congressional action, it will default—a first in its long history, a spokesman said—on a legally required annual $5.5 billion payment, due Aug. 1, into a health-benefits fund for future retirees. Action in Congress isn't likely, as the House prepares to leave for its August recess.
Post Office Might Miss Retirees' Payment - WSJ.com
But on the postal service mess, to this outside observer, it seems silly that some portion of the US mail service is not just a governmental function, funded by appropriations (even though 40% supported by borrowing.)
