USPO to default?

[dellinger63]

As a result of its mounting losses, the US Postal Service said it would not be able to make a legally required $5.5 billion payment in September to a health-benefits trust fund.

"Absent substantial legislative change, the Postal Service will be forced to default on payments to the federal government," it said in a statement.

The government's mail service said it lost $3.1 billion in the period from April to June, blaming "the anemic state of the economy" and the growing popularity of electronic communications over old-fashioned letters.

http://news.yahoo.com/us-postal-warn...222059604.html

Someone please tap them on the shoulder and tell them to turn off the lights and lock the doors. The internet/email fad isn't going away.

When say 'an average american citizen' defaults by missing an insurance payment the policy is void until payment is made. Simple, the same should hold for postal workers. Thank God the USPO has property and vehicles it can auction to keep it going a while.

Not one cent should be 'legislated'.

We need to focus on protecting those who actually made all of their payments on time and are now not 'entitled' to but receiving what they paid for ie Social Security recipients! ANY and ALL surplus dollars should be directed to paying the $3.6 TRILLION owed them!