Tags: US | Postal | Problems

US Postal Chief: End Saturday Delivery

Wednesday, 28 Nov 2012 09:18 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease the terms of prepayments into a retiree health care fund and eliminate general mail delivery on Saturday.

Patrick Donahoe tells "CBS This Morning" the agency isn't asking Congress for money.

He says, "I think most people don't realize, we're 100 percent self-sufficient. We pay our own way." But the postal chief notes the agency is losing $15.9 billion this year.

Donahoe says the post office needs to refinance retirement health fund payments to $1 billion a year instead of $5 billion.

He says the Postal Service would continue package delivery on Saturday and keep post offices open. In this scenario, he says the agency could be $8 billion in the black each year.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Man in Dallas With Ebola Initially Sent Home With Antibiotics

Wednesday, 01 Oct 2014 08:27 AM

A man with Ebola in Dallas was initially sent home from the hospital with antibiotics after seeking treatment for an unk . . .

$1 Billion Recreation Spending Boosts Economies of 11 States

Wednesday, 01 Oct 2014 07:49 AM

$1 billion in recreation spending boosted the economies of 11 Western states in and around federally protected sagebrush . . .

Mayor of Bell Gardens Reportedly Shot by Wife

Wednesday, 01 Oct 2014 07:04 AM

Mayor Daniel Crespo of Bell Gardens in California was allegedly shot and killed by his wife, Levette, during a domestic  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved