Donahoe: Postal Service As It Exists Today 'Financially Unsustainable'

NEW YORK (CBSNewYork/AP) — Neither snow, nor rain, nor heat, nor gloom of night will keep a postal carrier from delivering your mail.

But lack of money might.

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Postmaster General Patrick Donahoe said his agency is in “the midst of a financial disaster” and may need an emergency increase in postage rates to keep operating.

Donahoe told a Senate committee Thursday that “the Postal Service as it exists today is financially unsustainable.”

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He’s asking Congress to let the Postal Service end Saturday mail delivery and reduce its annual payments for future retiree health benefits.

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