The Truth About Postal Service's Fiscal Cliff

It was reported this week that the US Postal Service has hit its $15 billion borrowing limit from the Treasury for the first time ever -- which means the USPS will be relying solely on revenue from stamps and shipping charges to cover its operating costs through the end of the year.

"Being at the limit is a serious situation because our limited liquidity does not give us operating flexibility," Postal Service spokesman David Partenheimer told the Wall Street Journal on Wednesday. "Without passage of comprehensive legislation as part of the Postal Service's business plan to return to financial stability, we continue to project low levels of cash."

While many see this situation as a simple case of black-and-white, the reality is actually quite complex.