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Postal Service warns of default as losses mount
By Ben Rooney, staff reporterFebruary 9, 2011: 3:47 PM ET
NEW YORK (CNNMoney) — The U.S. Postal Service warned Wednesday that it may default on some of its financial obligations later this year after reporting yet another quarterly loss.
The USPS, a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That compared with a loss of $297 million a year earlier.
https://money.cnn.com/2011/02/09/news/economy/postal_service/index.htm
