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The Postal Service continues to suffer from a severe lack of liquidity. “Absent significant changes in the law to allow normal commercial freedoms, the Postal Service will default on both retiree health benefits pre-payments to the federal government due this year,” said Chief Financial Officer Joe Corbett. “Even if legislation changes or eliminates the prefunding payments, we may reach our $15 billion debt ceiling in the fall of this year.”
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- People:
- Patrick Donahoe
- Places:
- United States
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