Postal Service 'running out of cash' - FederalTimes.com: "The U.S. Postal Service could become insolvent if Congress doesn't approve five-day mail delivery and change the way the agency funds its retiree health benefits, according to the agency's top financial official.
'We will need [some assistance from Congress] or we will have difficulty paying all of our obligations this year,' said Joe Corbett, the Postal Service's chief financial officer. 'And going into next year, we might not have enough cash to operate. ... We are dangerously close to running out of cash.'"
February 21, 2010
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