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Tags: Postal Problems

Postal Service May Get Short-Term Financial Help

Wednesday, 07 September 2011 11:19 AM EDT

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.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
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...
Postal Problems
93
2011-19-07
Wednesday, 07 September 2011 11:19 AM
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