Alas, the day that we all feared has arrived.

UPDATE:  Rod pointed out that the article says that since 2003 Congress requires the Postal Service to maintain a $3.1 billion escrow that Congress will later decide how to spend.  i thought that sounded pretty shady myself.  why does the postal service need a $3.1 billion escrow and exactly how does Congress usually spend that money?  in this article, it says the escrow was put in place because the Postal Service found out it had been overfunding its pensions.  from the way it reads, it seems like the shadiness is on the part of how the White House chooses to release the funds.  On top of that, it also notes a second issue regarding pensions for postal workers.  Pensions associated with prior military service are supposed to be the responsibility of the Treasury.  For some reason, the Bush administration pushed that burden onto the Postal Service.

"Congress, the Postal Service, the mailing industry and postal employee unions--just about everyone except White House officials--say this cost should move back to Treasury."

"The increase fulfills a requirement, passed by Congress in 2003, that the Postal Service establish a $3.1 billion escrow account. Congress is to determine later how to spend that money." Someone want to explain that to me?