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 This material may not be published, broadcast, rewritten or redistributed.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:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Court Rulings Leave Doubts About Obamacare Subsidies

Thursday, 24 Jul 2014 16:39 PM

Conflicting court rulings about the subsidies used to help people living in states that rely on the federal insurance ex . . .

Marine Vet Locked Inside Florida VA Clinic for Hours

Thursday, 24 Jul 2014 16:32 PM

Marine veteran Jeffrey Duck has received an apology from the Department of Veterans Affairs after he was locked inside a . . .

Ex-Sen. Joe Lieberman to Teach at Yeshiva University

Thursday, 24 Jul 2014 16:30 PM

Former U.S. Sen. Joseph Lieberman has been appointed a professor at Yeshiva University for the coming school year. The p . . .

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