US POSTAL SERVICE BROKE - Could Shut Down Service

(09/12/2011)

The U.S. Postal Service is saying it may have to shut down this winter unless Congress steps in with emergency money to shore up its finances. The service has already announced the pending closure of thousands of post offices, many in rural areas, including two in Calhoun at Orma and Millstone. "Our situation is extremely serious. If Congress doesn't act, we will default," said Postmaster General Patrick R. Donahoe. The agency is so cash-starved that it will not be able to make a $5.5 billion payment due this month, according to the NY Times. The report listed cost-cutting measures Donahoe has suggested in recent months to handle the Postal Service's deficit, which will reach $9.2 billion this fiscal year. PROPOSALS TO CUT COSTS Eliminating Saturday mail delivery Closing up to 3,700 postal outlets Laying off 120,000 workers — nearly one-fifth of the agency's work force — despite a no-layoffs clause in the unions' contracts

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