More Pressure on Congress; USPS Can't Make 8/1 Payments Due

USPS Default on August 1 Appears Likely: Under a schedule laid out in the 2006 Postal Accountability and Enhancement Act, the Postal Service is also supposed to make a $5.6 billion payment into the retiree health fund at the end of September. “Without congressional action, we will default on both payments,” USPS spokesman Dave Partenheimer said in an email Thursday.