August 24, 2012

Postal Service plans to Default on $5.5 billion bill which could affect current employees

The U.S. Postal Service is expected to default a huge debt owed to the government in the amount of $5.5 billion dollars. The US Postal Service has made it known that it is experiencing financial struggles which may have an effect on thousands of job holders. It is unable to pay toward retiree health benefits. Day-to-day operations will remain in effect as normal but the agency’s debt is rising. Under a law passed by Congress […]