In a Senate hearing yesterday, Postmaster General Patrick Donahoe called for Congress to take action to help the U.S. Postal Service pay its bills and avoid defaulting. In his testimony, Donahoe proposed cutting more than 120,000 jobs, closing 300 out of 500 processing centers and thousands of post offices around the country, and eliminating Saturday mail delivery. The Obama administration has proposed giving the USPS an extra three months to make a $5.5 billion payment due on Sept. 30.
Postmaster General Patrick Donahoe talks about his vision for a smaller, financially solvent United States Postal Service.