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Tuesday, September 06, 2011

U.S. Postal Service Faces Bankruptcy

Postmaster General Patrick Donahoe is scheduled to appear before a House committee today to try and get a "$5.5 billion payment" to help pay USPS bills and avoid insolvency- according to this story from the ASSOCIATE PRESS via MyWay News.

The post office is slated to rack up at least $8-BILLION in losses this year- the 2nd year for such losses in a row.

The USPS is already contemplating ending Saturday mail deliveries and adding 120000 USPS employees to America's swollen ranks of unemployed.

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