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11 Billion default???? United Sates Postal service

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User ID: 2391051
United States
08/01/2012 08:43 AM
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11 Billion default???? United Sates Postal service
Got to love the treasury department?? WTF, I mean Central banks...

With cash running perilously low, two legally required payments for future postal retirees' health benefits $5.5 billion due TODAY, and another $5.6 billion due in September will be left unpaid, the mail agency said Monday. Postal officials said they also are studying whether they may need to delay other obligations. In the coming months, a $1.5 billion payment is due to the Labor Department for workers compensation, which for now it expects to make, as well as millions in interest payments to the Treasury.

[link to www.businessinsider.com]
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