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Senate to look at ways to Help Postal Service

4 years ago May 17, 2011 May 17, 2011 Tuesday, May 17 2011 Tuesday, May 17, 2011 6:34:11 PM CDT in News
Source: Associated Press
By: Michael Marsh

Thinking outside the mailbox may be the only way to save the Postal Service which is hemorrhaging money and struggling to stay afloat. Senator Tom Carper of Delaware says he's introducing a bill to restructure the Postal Service's finances and ease some of the restrictions that limit its flexibility. For the first three months of this year the post office was more than $2 billion in the red and faces an $8 billion loss for the fiscal year. Carper says says the post office should be able to use extra money in its retirement fund to cover future health benefits which would take more than $5 billion off its costs each year.

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