Post office might miss payment to retirees. are they looking for a bailout?

Last year Obamas plan to help shore up USPS was to have them close on saturdays, no deliveries.

To raise postage rates. And to do some creative accounting where they gave back an overpayment and they deferred a retiree payment.

I am not critical of all of that. something had to be done. However the accounting part was pretty sketchy and had some criticism that USPS needed reform and this wouldnt solve the problem.

USPS scheduled to end Saturday deliveries after the end of the year.

However the problem is hitting quicker. USPS cant make its 5.5 billion dollar payment and retirees may not get their money. USPS may default on its payment.

http://online.wsj.com/article/SB100008723963904440...

The Obama administration really isnt solving the problem , just putting a bandaid over problems