The U.S. Postal Service must be saved from itself. The latest data proves that it can't continue business as usual.
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.
The U.S. Postal Service ended the 2012 fiscal year (Oct. 1, 2011 – Sept. 30, 2012) with a record net loss of $15.9 billion.
Let's reach out to profitable public parcel companies to turn the USPS around.