U.S. Postal Service Running Out Of Money

By Scott Sarvay

U.S. Postal Service Running Out Of Money

March 3, 2011 Updated Mar 3, 2011 at 4:32 PM EDT

WASHINGTON (Indiana’s NewsCenter) - Unless some things change the US Post Office will run out of money by the end of the fiscal year which ends in October.

The Postmaster General is urging Congress to change a law requiring the Postal Service to pay $5.5 billion a year into a fund for future retiree medical benefits, saying the Postal Service would have shown a profit in 2007 and 2008 if it did not need to pre-fund health benefits.

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