Is the Post Office running out of money? Four unions representing the nation’s postal workers are asking for a White House meeting about the possibility that the Postal Service will be unable to make payroll as soon as October. Congress Daily reports, the unions also worry about the Postal Service missing a contribution to workers payroll and retiree health benefits funds. The Post Office says it will make payroll.
Banks got a lot of flack for how they handled bailout money. But a new survey showed that eight out of 10 banks who got federal money in fact used the cash for new loans and to avoid cutting their loan activity. The survey was conducted by Neil Baroksky, the Special Inspector General for the Troubled Asset Relief Program.
The economic green shoots might out there, but the White House is looking at a gap between upbeat economic predictions and the actual unemployment rate and federal deficit. So the White House might delay the release of its annual midsummer budget update. Usually scheduled for mid-July, the update has been put off until the middle of next month. Timing appears to coincide with the Congressional recess.
More food stamps recipients are using this federal benefit at farmers markets, and not just supermarkets. The New York Times reports, people could always use food stamps at farmers’ markets, but few markets could afford the expensive terminals for processing food stamp debit cards. But in recent years, markets have received state and federal grants to install the terminals.