Obama Throws Support Behind USPS Five-Day Delivery
WASHINGTON, DC—It seems that Pres. Obama is coming to the aid of the U.S. Postal Service, at least to an extent. Obama has said he is in favor of ending Saturday mail delivery and increasing postage rates.
The proposals were part of Obama's deficit reduction recommendations, the Washington Post reported. However, the president would not back the idea of the USPS breaking its labor pacts or laying off 120,000 workers.
The White House wants Congress to return $7 billion to USPS—monies it had prepaid into a federal retirement fund—to help pay for other retirement and health care costs, the Post said. Obama’s plan would allow the Postal Service to raise stamp prices beyond the rate of inflation and better match the cost of delivery.
In all, the proposals would provide USPS in excess of $20 billion in savings during the next few years and cut the federal deficit by $18 billion-plus over the next decade.