US Postal Service Warns of Cash Crisis

0:00On March 17, the head of the U.S. Postal Service warned Congress this week that the agency could run out of cash as soon as October or November. Postmaster General David Steiner said, required retirement payments and other obligations to the government are draining funds fast. Without changes, the service faces a serious shortfall in under a year. Steiner urged lawmakers to approve higher-stand prices, more borrowing authority, and key reforms. He floated tough cost cuts, like dropping from six-day-week deliveries, shedding some post offices, or hiking first-class stamps above $1. From $0.78, lawmakers showed mixed reactions during the hearing. Republican representative Pete Sessions from Texas pledged to collaborate but ruled out price hikes. Democrat Kwaisi M. Froome from Maryland called for urgent fixes, warning Congress can't stand by while the Postal Service sinks. The agency has posted net losses of $118 billion since 2007, mainly from shrinking first-class

1:01mail volumes at. They're lowest since the late 1960s. Earlier reports pegged the cash crisis for early 2027. Now awaiting a full planning report from higher consultants, the Postal Service is eyeing every option to stretch its runway and avoid default. lawmakers face pressure to act before the deadline hits.