Postal Service Barred from Borrowing More

The cash-strapped U.S. Postal Service has reached its $15 billion debt limit as capped by Congress and is barred from borrowing more. The Postal Service hit the cap on Sept. 28, a spokesman confirmed, reinforcing the fact that its cash reserves are running dangerously low.

The agency will have enough money to keep running and pay its employees and contractors for a few months due to the influx of election mail and holiday season mail.

Congress needs to pass legislation to save the Postal Service. However, that's unlikely to happen until after the Nov. 6 election and could possibly be pushed to