Read Time:42 Second
By USDR
The U.S. Postal Service (USPS) currently owes $99.8 billion in benefit payments to its current and retired workers but does not have the money, and if Congress does not act to fix the problem, the Postal Service may have to “implement contingency plans to ensure that mail delivery continues,” according to a new report by the Government Accountability Office (GAO).
“At the end of fiscal year 2013,” said the GAO, “USPS had about $100 billion in unfunded liabilities: $85 billion in unfunded liabilities for benefits, including retiree-health, pension, and workers’ compensation liabilities, and $15 billion in outstanding debt to the U.S. Treasury—the statutory limit.”
– See more at: http://www.cnsnews.com/news/article/michael-w-chapman/post-office-faces-100b-debts-and-unfunded-benefits#sthash.MDL9v7H5.dpuf
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0
Average Rating