Newsmax reports that the U.S. Postal Service has paid off its debt. It still plans on raising prices next year, First Class to 39¢ a letter, with another increase in 2007.

Checking out the financial statements, one can see that the USPS still relies on government money. The October 2005 statement says it collected $216 million in government receivables and $13 million in direct government appropriations for the month.

So the USPS is close but not yet self-sustaining. Amazing what even limited competition will do to reduce government expenditures. Time to step on the accelerator and divest the business. :)