- Mich. judge to laughing convicted killer: ‘I hope you die in prison’
- Man charged in Kansas City-area highway shootings
- Keystone XL pipeline still on hold after State Dept. decision
- Fla. man charged with killing 16-month-old son to play Xbox undisturbed
- Drones from the deep: Pentagon develops ocean-floor attack robots
- Michigan mayor slaps back atheists’ try to erect ‘reason station’ at city hall
- PHILLIPS: Where is the conservative establishment?
- 7.5-magnitude earthquake shakes southern Mexico
- ISTOOK: IRS “wants to throw us in jail,” says tea party leader
- Easter woes: Chocolate costs soar, becoming ‘unaffordable’ luxury
Postal chief lays out plan for agency survival
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.
Postmaster General Patrick R. Donahoe told "CBS This Morning" the agency isn't asking Congress for money.
"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.
TWT Video Picks
- Harry Reid blasts Bundy ranch supporters as 'domestic terrorists'
- Immigration still on hold: Boehner's office
- Inside China: Marine's comment on islands draws sharp Chinese response
- Supreme Court weighs appeal to concealed-carry gun laws
- PRUDEN: When a bored president just 'mails it in'
- Nancy Pelosi washes immigrants' feet in humble Holy Week act then promotes on Twitter
- Atheists rush to stage Easter display: 'Jesus Christ is a myth'
- BRUCE: Obama deliberately emboldening America's enemies
- Army goes to war with National Guard, seizes Apache attack helicopters
- Critics rail against liberal bias for commencement speakers
Top 10 handguns in the U.S.