Delivery deadline: U.S. Post Office faces financial crisis in March
January 11, 2013 (CHICAGO) (WLS) -- By March, the U.S. Post Office will have about $1 billion in the bank.
According to the financial report released by the USPS, that's barely enough to run the postal service for four days. That means that by March U.S. residents could see a cutback in mail delivery, and USPS employees could lose their jobs. In 2006, a Congressional mandate forced the post office to pre-fund healthcare benefits for future retires, and that may have started the government agency's financial decline. Before that, the postal service had no doubt, officials say. Another issue: fewer people mail their bills or write letters to friends, both of which have moved online in the form of emails and internet banking. USPS officials hope Congress will come up with a plan to help the agency.
- Retired CPD sergeant critical after SE Side shooting 22 min ago
- Blue Line stop reopens after water main break
- Flight 370: Missing Malaysia plane search expands 52 min ago
- ABC7 First Alert Weather Forecast
- Chicago Weather: Snow to arrive Tuesday
- Car crashes into building in Belmont Cragin
- 1 dead, 8 injured in Chicago shootings Monday night
- $7 million shoplifting suspect due in court, parents jailed
- 5 hurt in crash on Aurora bridge
- Gary shooting: 1 dead, at least 2 others injured
- Joe McGinniss dies at 71 after cancer battle 21 min ago
- Photos: Highest-paid musicians, according to...
- Photos: 'The Bachelor' Season 18 finale in pictures
- abcnews: Happy Couples Share 6 Common Habits
- 7 in :77
- Retired CPD sergeant critical after SE Side...
22 min ago