WASHINGTON - The post office will run out of money this year unless it gets help, Postmaster General John Potter told Congress on Wednesday as he sought permission to cut delivery to five days a week.
“We are facing losses of historic proportion. Our situation is critical,” Potter told a House panel.
The agency lost $2.8 billion last year and is looking at much larger losses this year. Reducing mail delivery from six days to five days a week could save $3.5 billion annually, Potter said.
Potter also urged changes in how the post office pre-pays for retiree health care to cut its annual costs by $2 billion.
If the Postal Service does run out of money, the lingering question, Potter told the House Oversight post office subcommittee, is which bills will be paid and which will not. Ensuring the payment of workers’ salaries comes first, he said, but other bills may have to wait.
Potter, while running the service into the ground, recently received a $135,000 bonus to go with his $850,000 salary package. No word yet on whether Congress will pass a 90% tax on his bonus.
I've got an idea. If the Post Office needs to generate more revenue, how about doubling the postage cost on junk mail? Why give bulk mailers a break just so they can fill our mailboxes with stuff we don't want?
Just an idea. I think I'll send them an email about it.
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