“The postal service has reached its $15bn credit limit with the US Treasury, and has in effect run out of money. ‘This is the year that they borrowed so much that they can’t borrow any more,’ Williams said. Asked whether the USPS will need a bailout this year, Williams replied: ‘Yes. The choices are that it would cease to exist or it would need a bailout.’ Williams said he did not expect the USPS to require taxpayer dollars, but instead that it would require congressional intervention, perhaps to reduce the pension payments.”
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