White House Considering Short-Term Help for Postal Service

The Obama administration is considering short-term assistance to help pull the Postal Service back from potential insolvency, the Associated Press reported Wednesday.

Postmaster General Patrick Donahoe said the agency will be unable to make a required $5.5 billion payment to the Treasury at the end of September, AP said.

But the Office of Personnel Management said the White House may delay the payment for 90 days as part of a larger economic package in the works, AP reported.

The Postal Service could post a $10 billion loss for its fiscal year, Donahoe said, as mail volume continues to drop, the Washington Post reported Wednesday,