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Postmaster General Donahoe To Discuss Budget Woes

DAVID GREENE, host:

NPR's business news starts with postal service blues.

(Soundbite of music)

GREENE: The postmaster general is on Capitol Hill today, to discuss the dire finances of the country's mail service. Patrick Donahoe appears before senators a few days after the U.S. Postal Service announced it may not be able to make a multi-billion-dollar payment next week, and could run out money entirely by next year.

The USPS has been plagued by losses for years. Officials have proposed an end to Saturday delivery, and now they say they may slash more than 120,000 jobs.

The postmaster also wants Congress to allow the postal service to pull all of its employees from federal health and retirement plans. Transcript provided by NPR, Copyright NPR.