Post Office Desperate For Financial Help
The post office was $2.8 billion in the red last year and is facing even larger losses this year due to the sharp decline in mail volume in the weak economy.
Potter has raised the possibility of cutting mail delivery from six days a week to five, and is also seeking relief from the requirement to set aside several billion dollars annually to prefund retiree medical care.
“With the Postal Service facing budget shortfalls the subcommittee will consider a number of options to restore financial stability and examine ways for the Postal Service to continue to operate without cutting services,”
Read more via Post Office Desperate For Financial Help – CBS News.