It's no surprise the Post Office showed a loss of over $9 billion last year and is on the same track to post a shortfall of at least $8 billion this year and today, the postmaster general will testify before Congress about how the government backed agency can't pay its bills.
Postmaster General Patrick Donahoe is among the witnesses scheduled to appear Tuesday before the Senate Homeland Security and Governmental Affairs Committee.
The Postal Service is facing a second straight year of losses of $8 billion or more. A decline in mail because of the Internet and the loss of revenue from advertising amid the economic downturn have taken a toll on the agency.
Oh and what's this? Millions in unpaid pension/health care obligations?
Postal officials say they will be unable to make this month's $5.5 billion payment to cover future employee health care costs because the agency will have reached its borrowing limit and doesn't have enough cash.
Ready for the postal worker strike in 3...2...1...
|Katie Pavlich is the News Editor at Townhall.com. Follow her on Twitter @katiepavlich. She is also the author of Fast and Furious: Barack Obama's Bloodiest Scandal and the Shameless Cover-Up.
“ABSOLUTELY DEVASTATING! Intrepid investigative journalist Katie Pavlich rips the lid off Team Obama’s murderous corruption and anti-Second Amendment zealotry" says Michelle Malkin.
"Katie Pavlich draws back the curtain on a radical administration that put Mexican and American lives at risk for no discernible reason other than to advance an ideological agenda." - David Limbaugh
Buy Katie's book today and help us keep the pressure on Obama and his attorney general Eric Holder and expose the cover-up.
Author Photo credit: Jensen Sutta Photography
Democrat Congressman: I Am Paying More For Insurance Under Obamacare...And It's A Good Thing | Greg Hengler
EXCLUSIVE: Democrat Who Attacked Conservative Marilinda Garcia Has History of Unhinged Behavior | Katie Pavlich