Postal Service Nearing Default

The United States Postal Service warns it may soon be in default.

According to the New York Times, the agency is struggling to pay its bills and might not be able to make a $5.5 billion dollar payment due this month.
The Postal Service is calling on Congress to step in and help straighten out its finances.

Without help the agency says they may be forced to shut down this winter.

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  • by Mike Location: Panama City on Sep 8, 2011 at 08:42 AM
    Agree, the price of a stamp is a good deal for what you get. However, if they charged the junk mail people what they charge us per letter they wouldn't have this problem. A five day work week may be only one solution. Need to remember though if you work 5 days thats all you should get paid for.... $25.00 - $35.00 per hour plus benefits (not including overtime) -- not bad... CUT THE FAT.....
  • by Richard Location: Panama City on Sep 6, 2011 at 07:52 AM
    Just one more problems caused by union fat cats running up labor costs in an environment that is increasingly unable to support this kind of overhead costs. Unions are like a cancer in this country forcing companies out of business or overseas if they are to survive and now our Postal Service is in jeapordy of being the latest to fall victim to union greed.
    • reply
      by Anonymous on Sep 6, 2011 at 12:56 PM in reply to Richard
      All i can say is AMEN, & DITTO!!!
  • by walter on Sep 6, 2011 at 07:40 AM
    as Ray said the mail services dates to the pony express,history tells us what happened to it when the telegraph was invented.same thing is happening with post office with the invent of internet.congress needs to let them make changes to try & save some part of it.
  • by Dave Location: PCB on Sep 6, 2011 at 04:45 AM
    The big dudes at the post office feathered their own nest to the point that they can't pay their sweet retirement programs. Just like our politicans.
  • by Ray Location: Port St. Joe on Sep 6, 2011 at 04:33 AM
    THINK about it... $0.42 cents to send a letter First Class across the country is a great deal. Monday through Friday delivery would not be so bad. The common people of the United States need the USPS; many do not have a computer with Internet to send emails. The US Mail System dates back to the Pony Express.
  • by George Location: PC on Sep 5, 2011 at 09:10 AM
    This is proof that government control of the postal system isn't any more effective than any of their other ventures. Do away with the current postal system and create a bare bones agency to oversee private contractors. Does anyone realize the same thing is going to happen with Government run healthcare.
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