The American Spectator : Postal Bankruptcy

Coming to A Health Care Plan near you.....

The American Spectator : Postal Bankruptcy:

The U.S. government is effectively bankrupt. This year's deficit is $1.3 trillion, the national debt is $13.5 trillion, and the unfunded liabilities for Social Security and Medicare likely exceed $100 trillion.

Unfortunately, the U.S. Postal Service also is effectively bankrupt. The USPS expects to lose about $7 billion this year. The post office already has borrowed roughly $13 billion from Uncle Sam. At the end of 2009 USPS had $33.5 billion in outstanding liabilities and another $54.8 billion in unfunded retiree health and pension obligations."