US Postal Service faces cash crisis by 2027, postmaster general warns

The U.S. Postal Service is on track to run out of cash within a year unless Congress lets it borrow more. That's according to Postmaster General David Steiner, who tells the AP that running out of cash will mean the Postal Service will not be able to pay its workers or vendors, with potentially dire consequences for mail delivery. Steiner is scheduled to testify before Congress later this month. In an interview this week, he says a decades-old $15 billion borrowing cap blocks an easy stopgap solution. He also says allowing the Postal Service to set higher stamp prices would help.