- House and Senate negotiators reach two-year budget deal
- Congress seeks ban on in-flight calls
- Michelle Malkin’s Twitchy site sold to owners of Townhall, HotAir: report
- GM’s Barra to be first woman to run top American carmaker
- China: Poisonous smog is a military asset, if you think about it
- Texas woman admits to sending ricin to Obama
- Ron Paul on son Rand: ‘I think he probably will’ run for president
- Cold War heats up again in the Arctic: Russian airfield reactivated after 20 years
- 6-year-old boy suspended for sexual harassment over kiss
- Voters deciding Mass. congressional contest
Postal Service: House must act to stem mail losses
If the House fails to act soon, postal officials say they will face a cash crunch in August and September, when the agency must pay more than $11 billion to the U.S. Treasury to prefund future retiree health benefits. Already $13 billion in debt, the health payment obligation will force the mail agency to run up against its $15 billion debt ceiling, causing it to default on the payments.
The agency’s second-quarter financial results will be released next week.
“If we can gain the flexibility to move quickly…, we can return to profitability,” Donahoe said. If not, “we risk becoming a permanent burden to the American taxpayer. “
The Postal Service, an independent agency of government, does not receive taxpayer money for its operations but borrows money from the Treasury to meet payment obligations. It is subject to congressional control on major aspects of its operations.
By Donald Lambro
Growth spikes are little more than trend-free anomalies
- Obama takes 'selfie' at Mandela's funeral service
- Harry Reid's visa pressure cooker
- Chinese man fed up with his girlfriend's shopping jumps to his death
- CARSON: Why did the founders give us the Second Amendment?
- Obama lied about Syrian chemical attack, 'cherry-picked' intelligence: report
- Obama shakes hands with Cuba's Raul Castro at Nelson Mandela's funeral
- Somber duty: U.S. presidents in hot demand at Mandela's memorial
- Israeli P.M. Benjamin Netanyahu backs out of Nelson Mandela funeral
- Obama's antics at Nelson Mandela tribute: Jovial conversation, handshake with Raul Castro
- American bourbon now better than Scottish whiskey: U.K.-born expert
Independent voices from the The Washington Times Communities
A column dedicated to discussing politics, national security, civil liberties, and education.
Criticism may not be agreeable, but it is necessary. It fulfills the same function as pain in the human body. It calls attention to an unhealthy state of things.
The “Silver Tsunami” created by aging Baby Boomers is hitting America. Let’s explore how we adjust to it, enjoy it and defy negative expectations about age.
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White House pets gone wild!
Let it snow