| Postmaster General John Potter told Congress the US Postal Service will run out of money this year.|
"We are facing losses of historic proportion. Our situation is critical," Potter said.
The postal service lost almost $3 billion last year, and losses are expected to be greater this year.
Potter said reducing mail delivery from six days to five days a week could save $3.5 billion annually.
The postal service has been facing major challenges from Internet and other private competitors, with some critics saying the agency has failed to focus on customer needs.
"Without a change we will exhaust our cash resources," he said. "We can no longer afford to do business as usual."