US Postal Service May Dodge Insolvency—For Now
By: AP
The White House may pull the Postal Service back from the brink of insolvency, at least for a few months.
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Postal worker
Postmaster General Patrick Donahoe reports the agency will be unable to make a required $5.5 billion payment to the Treasury at the end of September.
But the Office of Personnel Management says the White House may delay the payment for 90 days as part of a larger economic package in the works.
Postal spokeswoman Yvonne Yoerger said she had no details of the plan and that a long-term solution will still be needed.
The White House may pull the Postal Service back from the brink of insolvency, at least for a few months. The Postal Service faces a $5.5 billion payment to the Treasury at the end of September.
