- 7 Ways to Build Your Credit Score Without a Credit Card
- A Simple Way to Invest Your Retirement Savings
- 8 Ways to Save on Life Insurance
- How to Get Started Investing When You Don’t Have Much Money
- Lower Your Cable Bill With Techniques A Hostage Negotiator Uses
- The ABCs of Selecting a Medicare Supplement Plan
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.