Remember when USPS was the Poster Child For Obamacare?
It seems the United States Postal Service (USPS) is facing insolvency - unexpectedly. Bloomberg Business Week is reporting that the USPS has not been able to cover its debts since 2007. The situation is so dire a GAO study of the USPS was released 18 months early in April 2010 in hopes of alerting stakeholders in the USPS to start making changes. A year later, the fiscal situation is still a disaster.
USPS was once held up by the Obama administration as an example of a government entity that can provide healthy competition to private companies. Based on the USPS model, government sponsored health care will be unable to fulfill its debts and closed on Saturday. *head desk*
See below for a classic ‘remember when’ video: