Does this mean that the Federal Government is actually going to let some people go? Naw... can't be. I expect it just means that its employees will be working slower.
Sep 20, 3:01 AM EDT
Obama endorses ending 1 day of mail delivery
By RANDOLPH E. SCHMID
Associated Press
WASHINGTON (AP) -- President Barack Obama says the U.S. Postal Service should be allowed to reduce mail delivery to five days a week to help cut its massive losses.
The Postal Service lost $8.5 billion last year and is facing even more red ink this year as the Internet siphons off large amounts of first-class mail and the weak economy reduces advertising mail.
While the post office has cut more than 100,000 workers in the last few years it needs to cut more, close offices and find other ways to reduce costs to keep operating.
In his economic growth and debt reduction plan unveiled Monday, Obama endorsed the idea of dropping one day of mail delivery - it is expected to be Saturday - and urged other changes in postal operations
He agreed that nearly $7 billion the post office has overpaid into the federal retirement system should be refunded to the agency, urged that its payments for advance funding of retiree medical benefits be restructured, and said the post office should be allowed to sell non-postal products and raise postage rates.
Currently the post office cannot raise rates more than the amount of inflation.
Full story: http://hosted.ap.org/dynamic/stories/U/US_POSTAL_PROBLEMS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-09-19-17-10-05
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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