August 4, 2012
On Wednesday the United States Postal Services was unable to make a $5.5 billion payment due to the U.S. Treasury. This is the first ever default by the “off-budget” service. I say off budget because the USPS is self-sufficient. It’s operating costs are paid for by the services it sells (i.e. stamps). The requirement to pay the $5.5 billion is a problem that congress created and since congress has chosen to allow the USPS to default, I have one simple question: Is congress intentionally trying to kill the Postal Service?