WASHINGTON (AP) — The head of the financially struggling U.S. Postal Service says the agency must be allowed to ease the terms of prepayments into a retiree health care fund and eliminate general mail delivery on Saturday.
“I think most people don’t realize we’re 100 percent self-sufficient. We pay our own way,” he said but noted that the agency is losing $15.9 billion this year.
Mr. Donahoe said the post office needs to refinance retirement health fund payments to $1 billion a year instead of $5 billion.
The Postal Service would continue package delivery on Saturday, he said, and keep post offices open. In this scenario, the agency could be $8 billion in the black each year, he said.
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