Tags: Postal Problems

Postal Service May Get Short-Term Financial Help

Wednesday, 07 Sep 2011 11:19 AM

The White House may pull the Postal Service back from the brink of insolvency, at least for a few months.

Postmaster General Patrick Donahoe reports the agency will be unable to make a required $5.5 billion payment to the Treasury at the end of September.

But the Office of Personnel Management says the White House may delay the payment for 90 days as part of a larger economic package in the works.

Postal spokeswoman Yvonne Yoerger said she had no details of the plan and that a long-term solution will still be needed.

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