The U.S. Postal Service is incurring unsustainable deficits and its financial condition has been classified as high-risk, according to a Government Accountability Office report.
The U.S. Postal Service had a loss of $1.9 billion in its most recent fiscal quarter, reigniting concerns about the service’s viability as it projects as little as three days of operating cash in October.
The House Committee on Oversight and Government Reform will hold a hearing on Wednesday in response to the Postal Service’s announcement last week that it will not go forward with a cost-cutting modification to its delivery schedule.
Rep. Blake Farenthold (R., Tex.) will chair a new subcommittee for the House Oversight and Government Reform Committee, according to a source within the committee.
Congress has reached a deal to extend the payroll tax holiday. But while the Republican House plans to continue to advance legislation, including a budget resolution, the Democratic-led Senate (which hasn’t produced a budget in three years) has other priorities, reports Politico. It’s only February, but it looks like Congress is ready to pretty much …
Sen. Bernie Sanders, a self-professed socialist from Vermont, spoke with MSNBC’s Ed Schultz about his effort to reform the U.S. Postal Service, and complained about the myriad government regulations that impose a ‘horrendously onerous’ on the public entity.