Postal Service Fix Requires Congress, Not Bankruptcy (1)

The U.S. Postal Service may functionally share more in common with private corporations than with government agencies: its revenue is from sales and not taxes, it can borrow money on its own, and it files financial statements with the Securities and Exchange Commission.

But its options for averting financial ruin amid the economic downturn caused by the coronavirus pandemic stand in stark contrast to the business world.

Distressed U.S. companies, and even cities, that are being crippled by the economic toll of the Covid-19 pandemic can look to the nation’s bankruptcy laws for protection while they reorganize and restructure liabilities. ...