President Obama is set to present a special Valentine’s Day gift to the US Postal Service this year, in the form of assistance in his latest Budget.
The struggling USPS needs to address financial problems that saw it posting an $8.5 billion loss last year, with commentators predicting a $6.5 billion loss this year – and possible insolvency.
But this morning, the chairman of the Postal Regulatory Commission revealed that she had been told by White House officials that some assistance will come in the President’s Budget for the 2012 fiscal year, which is due to be announced later this month.
“I did have a meeting with representatives of the OMB in the White House,” Ruth Goldway said at the Commission’s latest open meeting, “who indicated to me… that there will be something in the President’s Budget on February 14 that deals with major financial concerns in the Postal Service.”
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