Getting your player ready...
WASHINGTON — Lawmakers today will consider various proposals to restructure the U.S. Postal Service, just days after government auditors warned that the agency must quickly address its financial viability.
Confronting a sharp decline in mail volume tied to the recession and the continuing migration to e-mail and online payment options, the Postal Service projects a net loss of $7 billion this fiscal year and debt to exceed $10 billion, leading to a cash shortfall of about $1 billion. Losses are expected to continue next year.
