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US Postal Service defaults. Fate lies with Congress...Again!! And Again!! and...
Ms Sans Serif
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[quote:Anonymous Coward 22124161:MV8yMDA5MzQzXzMzNzYwMjkxXzFFN0U4RUIx] these payments are for future retiree health care benefits 75 years into the future, the have to pay 6 billion a year for the next ten years for this. This setup was put into place by republicans in 2006, to insure a default. The USPS is not now nor was it ever meant to be a business that made profit,it was a service for the people, and has been in place since the country was born. They found a way to kill it and chop it up for business to make money from it, its a shame...alot of postal employees are ex military, it gave them a decent paying job and a way to feel as though they still were serving their country. [/quote]
US Postal Service defaults. Fate lies with Congress.
The U.S. Postal Service, on the brink of default on a second multibillion-dollar payment it can't afford to pay, is sounding a new cautionary note that having squeezed out all the cost savings within its power, the mail agency's viability now lies almost entirely with Congress.
In an interview, Postmaster General Patrick Donahoe said the mail agency will be forced to miss the $5.6 billion payment due to the Treasury on Sunday, its second default in as many months. Congress has left Washington until after the November elections, without approving a postal fix.
link to www.csmonitor.com
this aint the first time..read more from others here on glp
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