Postal Service Default Looming?

A recent CNN Web poll indicated that 75 percent of the folks who voted would miss the U.S. Postal Service if it were no longer around. That’s the good news. The bad news is that Congress is now debating how best to avoid the looming crisis of a default.

Postmaster General Patrick Donahoe told a Senate committee recently that without enactment of legislation by the end of this month, the Postal Service faces default, as funds will be insufficient to make a congressionally mandated $5.5 billion payment to pre-fund retiree health benefits.

“The Postal Service is in a ...

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