USPS Defaults On $5.5 Billion

United States Postal Service defaulted on a 5.5 billion payment it owes to the Treasury thanks to a poison pill piece of legislation passed by Republicans in 2006. Despite the financial troubles of the Post Office being well-known in Congress – Republicans in Congress have refused to do a single thing to help the institution, which is older than the nation itself. Instead, over the last two years, House Republicans have introduced 60 bills to rename post offices around the country. Yet, not a single bill to save the Post Office has been considered in Congress. That's because Republicans really don't give a damn about the Post Office and its unionized workers.