Federal Times--Despite maxing out a $15 billion line of credit with the U.S. Treasury last month, the U.S. Postal Service can scrape by at least through March.
That's according to Ruth Goldway, chair of the Postal Regulatory Commission, the agency that oversees the Postal Service. The commission meets with USPS officials following the release of each quarterly financial report, the last of which was in August. In the ensuing review, the Postal Service "projected that they would be able to continue operating without disruption until at least midway through the fiscal year without any action by Congress," Goldway said in a statement to Federal Times. Fiscal 2013 began this month; the mid-point arrives at the end of March. The projection included the presumption that the Postal Service would hit the $15 billion borrowing cap, a commission spokeswoman said. Read more!
That's according to Ruth Goldway, chair of the Postal Regulatory Commission, the agency that oversees the Postal Service. The commission meets with USPS officials following the release of each quarterly financial report, the last of which was in August. In the ensuing review, the Postal Service "projected that they would be able to continue operating without disruption until at least midway through the fiscal year without any action by Congress," Goldway said in a statement to Federal Times. Fiscal 2013 began this month; the mid-point arrives at the end of March. The projection included the presumption that the Postal Service would hit the $15 billion borrowing cap, a commission spokeswoman said. Read more!
