US Postal Service in financial trouble; seeking help

Bookmark and Share

Without legislation by September 30, the United States Postal Service could run out of money to pay salaries and contractors, hampering its ability to operate.

According to the Associated Press, Postmaster General Patrick Donahoe told the Senate Homeland Security and Governmental Affairs Committee the postal service will default on a mandated $5.5 billion payment to the Treasury without legislation.

The agency went on to say that a year from now they could run out of money to pay salaries and contractors. The Postal Service, which does not receive tax money for its operations, is not seeking federal funds.

The post office would like to reduce mail delivery to five days-a-week; close 3,700 offices, further cut the workforce by up to 220,000; and to withdraw from federal retirement systems and set up its own. It also seeks the return of $6.9 billion it overpaid into retirement funds.

GNP Facebook Question – If the post office was to cease operations how would it affect you?


1 Comment on "US Postal Service in financial trouble; seeking help"

  1. Meh… I said 3 years ago that the Post Office will be out of business in 10 yrs. I still have 7 yrs left to be correct. It’s an outdated and unnecessary service. And the fact that they still make Saturday residential deliveries? They should have stopped that 10 yearas ago and then they wouldn’t be in nearly as bad a mess as they are today.

    I have not purchased a postage stamp in probably 3 years. There’s simply no need.

Leave a comment

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.