Source: Paul Courson / CNN
Washington – The U.S. Postal Service does not have the money to meet an obligation to a retiree health care trust fund coming due at the end of the month, but if there’s a default, officials promise no interruption in the mail, the payroll, or payments to suppliers.
Commenting in response to a New York Times article Monday suggesting the Postal Service may have to shut down within months, spokeswoman Yvonne Yoerger told CNN there’s “nothing actually new in the Postal Service’s position.”
“We are required to make this $5.5 billion dollar payment into the future retiree health benefits fund, and probably won’t be able to make it when it comes due September 30th.”
The fund was mandated by a 2006 postal reform act that postal officials today believe does not match the reality of declining revenues and a smaller workforce. Tuesday, congressional lawmakers will address the matter in a hearing on postal operations.
To read this article in its entirety visit CNN.
Sphere: Related Content
Source: Mark Preston / CNN
Las Vegas – Republican presidential hopeful Jon Huntsman said Friday he was skipping next week’s Western ...
Rapper/actor Common introduces Top 10 CNN Hero Diane Latiker, who helps youth through her program "Kids Off the Block."
Anderson Cooper looks into the past of one of Gov. Perry's former aides, a lobbyist who worked for a top ...
In a CNN.com article, James Carville warns the White House that the president's approach isn't working.
Source: Gabriella Schwarz
She lost the Democratic presidential nomination in 2008, but over a third of Americans said the ...
Huntsville, Texas - The U.S. Supreme Court has halted the execution of a black man convicted of a double ...
A man is arrested but licks his way out of handcuffs. CNN's Jeanne Moos reports on a back seat escape ...
New audio tapes released by Caroline Kennedy reveal a different side of her mother.
Washington - The Republican Party is split right down the middle between tea party movement supporters and those who ...
Presidential candidate Rep. Ron Paul faces criticism over his stance on how to treat people without health insurance.
Huntsman To Boycott Presidential Debate
A Safe Place For Chicago Youth: Common Introduces
AC360 Keeping Them Honest: Lobbying Rick Perry (VIDEO)
James Carville To White House: Panic (VIDEO)
Poll: Americans Optimistic About Hillary Clinton Presidency
Supreme Court Halts Texas Execution Of Duane Buck
‘Handcuff Houdini’ Licks His Way Out Of Handcuffs
Jackie Kennedy Called MLK ‘Phony’ (VIDEO)
New CNN Poll: GOP Divided Over Tea Party
Ron Paul’s Sick Staffer Died Uninsured (VIDEO)