Looming U.S. Postal Service Default Shakes Mailers’ Confidence: Missing the health pre-payment, the first default in the agency’s history, would not cause interruptions in service or prevent the Postal Service from paying suppliers and employees, USPS spokesman David Partenheimer said in an email.
The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.
