Oct 18, 2012

USPS Has Reached Debt Limit

"...The cash-strapped U.S. Postal Service has reached its $15 billion debt limit as capped by Congress and is barred from borrowing more.

The Postal Service hit the cap on Sept. 28, a spokesman confirmed, reinforcing the fact that its cash reserves are running dangerously low.

To run its business, the Postal Service can only borrow money from the U.S. Treasury, as opposed to private banks. Congress has barred the Treasury from lending it more than $15 billion at one time..."

Read more at cnn.com

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