U.S. Postal Service at the End of Days: Apocalypse Now

It appears to be the end of days for the U.S. Postal Service (USPS).

Although the Senate recently extended the deadline for a $5.5 billion payment due to the federal government by the USPS to Nov. 18 from Sept. 30, the extra six weeks or so will not make much difference for the beleaguered and financially crippled postal service.

The USPS doesn’t have the money, is not likely to get the money from a federal government that has grown weary of further bailouts, and, more important, will probably run out of cash by next summer -- meaning it will have little or no hope in meeting its payroll.

Moreover, the $5.5 billion the USPS owes to its retirees’ health care benefits fund may be the least of its monumental problems.  Read More

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