{"id":4063,"date":"2013-10-03T13:40:32","date_gmt":"2013-10-03T13:40:32","guid":{"rendered":"http:\/\/megalextoria.wordpress.com\/?p=4063"},"modified":"2017-01-30T01:01:40","modified_gmt":"2017-01-30T06:01:40","slug":"postal-service-defaults-on-5-6-billion-payment","status":"publish","type":"post","link":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/2013\/10\/03\/postal-service-defaults-on-5-6-billion-payment\/","title":{"rendered":"Postal Service defaults on $5.6 billion payment"},"content":{"rendered":"<p>he U.S. Postal Service has defaulted on a $5.6 billion payment for retiree health benefits that was due on Monday, just as the Postmaster General had warned it would.<\/p>\n<p>\u201cWe have not made the required $5.6 billion Retiree Health Benefits prefunding payment due Sept. 30, 2013,\u201d wrote USPS spokeswomen Patricia Licata in an email to CNNMoney. She added that the default has absolutely nothing to do with the federal government shutdown. \u201cWe have been saying for several months that we will be defaulting on this payment. This is the third time we have [done so],\u201d Licata wrote.<\/p>\n<p>Postmaster General Patrick Donahue told the Senate Committee on Homeland Security and Government Affairs that the default was going to happen on Sept. 19.<\/p>\n<p>At the time, he said the Postal Service was \u201cin the midst of a financial disaster\u201d and that it is \u201cburdened by an outdated and inflexible business model\u201d that prevents it from making payments.<\/p>\n<p>Full article: <a class=\"externlink\" title=\"Go to http:\/\/money.cnn.com\/2013\/10\/01\/news\/economy\/postal-service-default\/index.html\" href=\"http:\/\/money.cnn.com\/2013\/10\/01\/news\/economy\/postal-service-default\/index.html\">http:\/\/money.cnn.com \u2026 e-default\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>he U.S. Postal Service has defaulted on a $5.6 billion payment for retiree health benefits that was due on Monday, just as the Postmaster General had warned it would. \u201cWe have not made the required $5.6 billion Retiree Health Benefits prefunding payment due Sept. 30, 2013,\u201d wrote USPS spokeswomen Patricia Licata in an email to CNNMoney. She added that the default has absolutely nothing to do with the federal government shutdown. \u201cWe have been saying for several months that we will be defaulting on this payment. This is the third time we have [done so],\u201d Licata wrote. Postmaster General Patrick Donahue told the Senate Committee on Homeland Security and Government Affairs that the default was going to happen on Sept. 19. At the time, he said the Postal Service was \u201cin the midst of a financial disaster\u201d and that it is \u201cburdened by an outdated and inflexible business model\u201d that prevents it from making payments. Full article: http:\/\/money.cnn.com \u2026 e-default\/index.html<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[1870],"class_list":["post-4063","post","type-post","status-publish","format-standard","hentry","category-news-and-politics","tag-usps"],"_links":{"self":[{"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/4063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=4063"}],"version-history":[{"count":0,"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/4063\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=4063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=4063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.megalextoria.com\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=4063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}