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What If the USPS Defaulted on $5.6 Billion and Nobody Cared? (It Just Happened)
Bloomberg BusinessWeek: What if a federal agency said it was unable to pay $5.6 billion worth of bills? You’d expect a lot of people to be outraged, especially when there’s such concern about the federal deficit.
Then again, the public and elected officials might simply yawn and ignore it. That’s pretty much what happened this week when the U.S. Postal Service defaulted on $5.6 billion that it is legally required to pay the federal government to cover its future retiree health-care benefits.
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