Politics Senate staves off postal Armageddon with USPS reform bill

Postal bill averts 3,700 post-office closings for at least two years, but fails to address deeper, structural problems in how the postal service manages a vast operation, rivaled only by Wal-Mart in total employment.

In a rare bipartisan vote, the Senate on Wednesday passed a postal reform bill to head off a potential shutdown at the struggling US Postal Service, which now owes $13 billion to the Treasury and is expected to run out of cash as early as this summer.