(Image Source: Natchez Democrat )

 

BY LOGAN TITTLE

 

ANCHOR MEGAN MURPHY

 

The Postal Service has announced it may be forced to default for the first time in the company’s history. Here’s WBUP.

 

“It owes $5.5 billion to a retirees health fund on August 1st, but says if Congress doesn’t take action it will miss the payment.”

 

The Statesman Journal explains Congress created a plan back in 2006 that put the post office on track to pay into a future retirement fund — but Congress never followed through with it and it isn’t likely action will be taken anytime soon, seeing as August recess is coming up.

 

A writer for USA Today says — in this case — time is money and a delay won’t help anyone.

 

“ … the Postal Service has lost more than $2 billion while the House has dawdled...If the Postal Service does run out of money, there's only one place a bailout could come from: taxpayers, which is why the House should stop twiddling its collective thumbs...The important thing is to keep the process moving...”

 

And the Wall Street Journal quotes a Delaware senator who agrees, saying …

 

"...‘every day that is lost in passing reform legislation puts the Postal Service another step closer to collapse, and unfortunately it appears that House Leaders are prepared to let that happen.’"

 

But not everyone is seeing the default in the same light.

 

A writer for Newsmax says many House Republicans disagree with a government bailout and even though Congress will most likely wait to vote on a bill until after recess, it wouldn’t mean the post office would be shut down.

 

The Wall Street Journal says if you’re worried about getting your mail after the default—don’t be. USPS says it will still be able to deliver and pay its employees to do so.