USPS will not "shut down" next summer due to cash crunch - postalnews blog
«
»

USPS will not "shut down" next summer due to cash crunch

Twitterer @nonprofitpostal has been providing updates from today’s MTAC meeting. A few minutes ago he tweeted the answer to the question of whether the USPS would have to shut down next summer when it runs out of money to pay its bills:

USPS will not "shut down" in Jly or Aug 2012 due 2 cash crunch bc they’ll have about $2B from not paying CSRS or FERS, plus $2 Bil fm Q3. USPS has a total $10B in gvmt pmts per yr which will be paid after suppliers and employees, if at all, until legislation intervenes. Any shut-down is only theoretic. Will. Not. Happen.

via Alive and well!: “USPS will not “shut down” …” « Deck.ly.

This entry was posted on Wednesday, August 17th, 2011 at 1:36 pm and is filed under postal. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

  • Jim Bob

    See I hate to say it “but I told you so!”

  • John

    Who really cares anymore! Each day the news is worse than the day before. Time for the people to rise up and throw all those bums out in Washington!

  • Linda

    It will shut down by July.

  • BorderDeuce

    Odds that USPS will shut down completely: No Chance!
    Odds of losing a day of delivery: 50/50
    Life seldom plays out as an all or nothing game. Some how we all seem to limp along through life despite our aching joints and aging minds. The Postal Service will too!

  • Aleman

    I have read that we run out of cash at the end of this September and will have exhausted our $15 billion credit line. So what’s the real story, do we still have cash for payroll and other operating expenses or not? For how long?

  • Gregg

    Aleman.Guess we’ll find out the answer to your questions soon enough.Anywho,who comes up with these dates that the USPS runs out of cash?? Will it be September 30.2011 or July of 2012??We won’t be told untill a week,maybe a day or two before it happens.Thanks for your dedicated service to the USPS.But,we can’t pay you any longer!! It’s no wonder that so many USPS employees have recently been diagnosed with hypertention and stress issues!!

  • Jofish

    Isn’t the world going to end in 2012?

  • 8d7

    it would kill online spendin. ups fedex are pricey as crap on small items.

    mail stops -so will my taxes! no way it would be allowed ever…