Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

Debt-ridden postal service looks to Congress for help

By Reuters
September 6, 2011

The postmaster general is going to Congress to discuss the Postal Service‘s mounting debt.

Postmaster General Patrick Donahoe is among the witnesses scheduled to appear Tuesday before the Senate Homeland Security and Governmental Affairs Committee.

The Postal Service is facing a second straight year of losses of $8 billion or more. A decline in mail because of the Internet and the loss of revenue from advertising amid the economic downturn have taken a toll on the agency.

Postal officials say they will be unable to make this month’s $5.5 billion payment to cover future employee health care costs because the agency will have reached its borrowing limit and doesn’t have enough cash.

The Postal Service has proposed ending Saturday mail delivery and is considering cutting as many as 120,000 jobs.

Enhanced by Zemanta

One Response to Debt-ridden postal service looks to Congress for help

  1. b mcclellan

    September 7, 2011 at 7:10 pm

    What better way to infringe on private correspondence than webulate all of it.

    How long before we are told the Pony Express was a bad thing. Horse fly terrorists spreading news of all things. Newman !

    The sanctity of an envelope sealed and passed into trusted hands for delivery at reasonable cost is but one more fleeting freedom at risk.
    Whoops, I meant to say gone.

    Congress mandated the retirement procurement and payout procedures for the USPS.
    Look it up,
    it’s their baby,
    don’t cry..