As of Wednesday, the postal service is in default on the mandate Congress has imposed on it to pay $5.5 billion a year to prefund retiree health benefits for the next 75 years. But never let it be said that Congress doesn't care about the postal service:
In the 18 months the 112th Congress has been sworn in, the House has introduced 60 bills to rename post offices. Thirty-eight have passed the House and 26 have become law.
Congress is sitting idly by Wednesday as the U.S. Postal Service prepares to default on $5.5 billion in retiree health care payments. The postal service confirmed in a statement Monday that it would default on its payment to the U.S... Read Post
Congress could intervene, but so far has been unwilling to do so. Congress passed the Postal Accountability and Enhancement Act of 2006 (PAEA). Under PAEA, USPS was forced to “prefund its future health care benefit payments to retir... Read Post