Postal Service Rescue: USPS Seeks Help from New Congress
The U.S. Postal Service is hoping for a rescue operation from the newly sworn-in Congress after it was revealed the mail carrier could run out of money in a little more than nine months.
The USPS loses $25 million a day, and in the year ending November 15, 2012 posted whopping losses of $16 billion. In the same period, the organization ran into its legal borrowing limit and defaulted twice on required payments to the federal government.
With more Americans than ever communicating by email and escalating benefits for retirees taking their toll, a postal service rescue is urgently required.