Post office expects $18B annual loss without cuts
WASHINGTON, D.C. (AP) -- The Postal Service is warning it will lose as much as $18.2 billion each year by 2015 if Congress doesn't give it leeway to eliminate Saturday mail delivery and make other service cuts.
In a letter to Congress, Postmaster General Patrick Donahoe describes a five-year business plan that reiterates the mail agency's proposals to switch to five-day delivery, close up to 252 mail-processing centers and 3,700 local post offices and slow delivery of first-class mail.
He says the proposals would allow the agency to save $20 billion a year by 2015 and repay its $12.9 billion debt to the Treasury.
In contrast, he says unless Congress acts soon, the Postal Service will incur significant annual losses and become a "long-term burden to the American taxpayer."
11:21 AM: Home-school sports bill would result in problems
12:39 AM: Aiken High's Newman signs to play college football
12:36 AM: Moseley joins list of South Aiken football signees
12:35 AM: Chicago just the latest part of Pough's life journey
- Arizona tribes talk about significance of solar eclipse
- Woman with flesh-eating disease maintains optimism in tough time
- First commercial spacecraft speeds toward space station
- Marvel Comics plans wedding for gay hero
- Finding a 'normal' diet is key for weight loss
- Five officers, two deputies off street during murder investigation
- Man killed ex-wife, shot self during incident with officers
- UPS takes city fitness challenge title
- Tank'd Moose opens in The Alley
- Diners get chance to experience meal as blind people do
Notice about comments:
Commenting rules: Do not post offensive, racial or violent messages. Responsibility for the statements posted lies with the commenter, not www.aikenstandard.com. Click 'report abuse' for any comments that you feel should be removed from the site. However, www.aikenstandard.com is not obligated to remove any comment posted on the site. Moderators do not have the ability to edit comments.
Full terms and conditions can be read here.