USPS will be down to $1 billion by March, according to report

USPS will be down to $1 billion by March, according to report

USPS will be down to $1 billion by March, according to report

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by WHAS11

kvue.com

Posted on January 11, 2013 at 9:49 PM

Updated Tuesday, Nov 5 at 9:28 AM

The U.S. Postal Service is facing its own fiscal cliff right now and they're running out of money to run their operations.

According to a financial report, the agency will be down to $1 billion in cash in March. That's barely enough to run the postal service for four days.

If nothing is done, you could see cutbacks in mail delivery and job cuts at the post office.

The problem appears to be twofold.

In 2006, Congress forced the postal service to pre-fund health care benefits for future retirees and fewer people are using the mail for bill paying and keeping in touch.
 

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