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Thursday marks a national day of mourning for former President Jimmy Carter, who passed away at 100. A state funeral will be held at Washington National Cathedral at 10 AM ET, with federal offices closed and the U.S. Postal Service suspending mail delivery. While stock markets will be closed, most banks are expected to remain open, and most schools will operate normally, though some may close due to winter weather. The IRS has extended the deadline for tax returns and payments originally due on this day to January 10, 2025.
A potential government shutdown just before Christmas could disrupt holiday travel, leading to longer airport wait times due to increased TSA staff absences. However, mail deliveries and Social Security payments would continue unaffected, as the Postal Service operates independently and Social Security is a mandatory program. Stock markets may react with short-term volatility, but historically, shutdowns have had minimal lasting effects on equity performance.
A U.S. House committee is set to hold a hearing on the U.S. Postal Service on December 10. The Postal Service has cautioned that it must continue to implement cost-cutting measures to avoid the risk of a government bailout or facing significant operational changes.
The U.S. Postal Service announced the necessity of ongoing cost-cutting measures to address persistent financial losses. Without these actions, the organization risks facing a government bailout or potentially ceasing to operate as it currently does.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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