CBS News first reported this morning that come August, your mail won’t come on Saturday.
At least if it’s first-class mail. Packages, medicines, priority mail and express mail may still be delivered.
The move is expected to save about $2 billion a year, and follows a string of other cutbacks to locations, hours, and workers.
It needs Congressional backing or post offices could lose some funding, but the decision already has wide support including from President Obama, Senator Tom Coburn and Rep. Darrell Issa. Those two are the top Republicans on the committees that oversee the Postal Service.
According to critics, this won’t be anywhere near enough to stop the Postal Service from losing money. Former government watchdog David Walker told CBS, “It’s got to look at more fundamental changes in its infrastructure, its compensation costs, its retirement obligations, and also what it does and who does its business.”
Of course, almost all of those decisions are at Congress’ whim, and Congress hasn’t solved this problem after several years of USPS hemorrhaging cash – $41 billion over the past six years.
Subscribe by email
Like this article? Sign up for our email updates and we’ll send you a regular digest of our newest stories, full of money saving tips and advice, free! We’ll also email you a PDF of Stacy Johnson’s ’205 Ways to Save Money’ as soon as you’ve subscribed. It’s full of great tips that’ll help you save a ton of extra cash. It doesn’t cost a dime, so why wait? Click here to sign up now.