Crisis? What crisis? | UTSanDiego.com
The U.S. Postal Service lost $5.2 billion for the three months that ended June 30. It is now losing $25 million a day.
On Aug. 1, the agency defaulted on a $5.5 billion payment to the U.S. Treasury for future retirees’ health benefits and said on Monday that it expects to default on an additional $5.5 billion payment next month. And it is predicting that it will “temporarily” run out of cash in October.
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