{"id":726665,"date":"2026-06-26T06:10:16","date_gmt":"2026-06-26T06:10:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/726665\/"},"modified":"2026-06-26T06:10:16","modified_gmt":"2026-06-26T06:10:16","slug":"postal-service-keeps-going-by-tapping-workers-retirement","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/726665\/","title":{"rendered":"Postal Service Keeps Going by Tapping Workers&#8217; Retirement"},"content":{"rendered":"<p class=\"storyParagraph\">&#13;<br \/>\n                                        The US Postal Service isn&#8217;t about to grind to a halt next year after all, but its long-term finances are still shaky. Postmaster General David Steiner told senators on Wednesday that earlier warnings of a 2027 cash collapse are off the table, largely because of a pause on required retirement fund payments and other cost-cutting moves, per <a href=\"https:\/\/www.npr.org\/2026\/06\/24\/nx-s1-5859334\/us-postal-service-david-steiner\" rel=\"nofollow noopener\" target=\"_blank\">NPR<\/a>. New estimates now put a potential cash crunch somewhere between 2031 and 2034. That breathing room comes with a catch: USPS is effectively funding operations by delaying what it owes to worker retirement plans, Steiner said, a strategy he and regulators describe as unsustainable.&#13;\n                                    <\/p>\n<p class=\"storyParagraph\">&#13;<br \/>\n                                        &#8220;The bottom line is that we are out of cash,&#8221; Steiner said in written testimony, per <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/us-postal-service-tells-congress-it-needs-help-running-out-cash-2026-06-24\/\" rel=\"nofollow noopener\" target=\"_blank\">Reuters<\/a>, to a Senate committee. He warned that the agency could run out of operating funds in months if it stopped deferring obligations. About 58% of the 18,000 \u200cPost Offices lose money, per <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/us-postal-service-tells-congress-it-needs-help-running-out-cash-2026-06-24\/\" rel=\"nofollow noopener\" target=\"_blank\">Reuters<\/a>. The agency, which posted a $2 billion loss last quarter, is raising stamp prices again and pressing Congress for changes to its borrowing limits, retirement obligations, and even its six-day delivery mandate. Lawmakers want detailed projections before signing off. &#8220;The Postal Service has a broken business model and action is needed by Congress to fix it.&#8221;&#13;\n                                    <\/p>\n","protected":false},"excerpt":{"rendered":"&#13; The US Postal Service isn&#8217;t about to grind to a halt next year after all, but its&hellip;\n","protected":false},"author":2,"featured_media":726666,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,1340,230335,34861,644,167676,1892],"class_list":["post-726665","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-congress","tag-david-steiner","tag-retirement-funds","tag-trump-administration","tag-us-postal-service","tag-usps"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/726665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=726665"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/726665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/726666"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=726665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=726665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=726665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}