U.S. Postal Service can no longer borrow money

By Courtney Wallace, News 20 at Five

The economy has made it hard for some, and now the U.S. Postal Service has new concerns. It can only borrow money from the U.S. Treasury but reached its debt limit. Congress put a lending cap of no more than $15 billion to the Postal Service at a time. To make up for its financial shortfall, USPS has tried to save snail mail. Along with borrowing from the Treasury, money usually comes from taxpayer dollars. Without funding, snail mail may no longer exist.

About AriaAaron

A 4th-year broadcast journalism student at Florida A&M University and a web producer for FAMU TV-20's News 20 at 5.

Posted on October 18, 2012, in News. Bookmark the permalink. Comments Off on U.S. Postal Service can no longer borrow money.

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