U.S. Postal Service faces uncertain future

U.S. Postal Service faces uncertain future

POSTED: Thursday, September 15, 2011 - 4:49pm

UPDATED: Thursday, September 15, 2011 - 6:01pm

More financial trouble for the U.S. Post Office; the Postmaster General announced the possible closure of more than 250 mail processing facilities across the country and as many as 35,000 jobs cut.

The post office has $8.5 billion in debt and business is dwindling with less people mailing packages and letters.

The Postmaster General said the agency is trying to get its finances in order, but has to get congressional approval to do it.

Last week, the Postmaster General told members of the Senate Homeland Security committee that in a year, the U.S. Post Office could run out of money for salaries and day-to-day operations.
 

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