Tuesday, September 20, 2011

To Save Postal Jobs, End Saturday Mail - White House

WASHINGTON (CNNMoney) -- President Obama on Monday unveiled a plan to save the U.S. Postal Service and its employees from insolvency -- a plan that includes the possible end of Saturday mail service.

The White House plan, which is part of a larger proposal to cut $3 trillion from deficits over the next decade, would first allow the U.S. Postal Service to use $7 billion from an overfunded pension account to avoid financial collapse.

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