The USPS's $5.5 Billion Default: What Happened and How it Could Affect Your Business
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NPR has a quick writeup of the reasons for the default here, but in brief, a combination of congressional election-year gridlock, decreased mail volume and a methodology of paying retiree benefits that has largely backfired, has caused the USPS to lose a reported $25 million a day.
For those interested in more information, Bloomberg has detailed piece explaining the failures of the USPS pension plan, and Direct Marketing News has word on how, if at all, the losses will affect postal prices and other mail products.
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Michael Cornnell
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