Post Office Asking for Bailout

From AP:

WASHINGTON (AP) — Postmaster General John Potter says that without help, the U.S. Postal Service will run out of money this year.

Potter told a House subcommittee Wednesday the lingering question is: Which bills will get paid and which will not.

He said he will make sure that salaries are paid, but also said other bills might have to wait. Potter is seeking permission to reduce mail delivery to five days a week and wants to reduce other costs.

He said the post office is “facing losses of historic proportion. Our situation is critical.”

(via J-Walk)