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Postal Service On Brink Of Default

Postal Service

First Posted: 09/05/11 02:49 AM ET Updated: 11/04/11 06:12 AM ET

The New York Times:

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to make a $5.5 billion payment due this month and may have to shut down entirely this winter unless Congress takes emergency action to stabilize its finances.

Read the whole story: The New York Times

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Filed by Benjamin Hart  |