USPS estimates for fiscal year 2011, ending this September 30, it will reach the $15 billion maximum debt ceiling. USPS has reported in Congressional hearings that it needs to eliminate Saturday delivery to save money, and it needs to recover “pre-paid overpayments” on future retirees held by the Office of Personnel Management. Both will have to be voted on by Congress, and the Government Oversight Committee continues deliberating these and other financial issues facing USPS.
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