Postmaster General Urges Congress to Fix Business Model to Close $20B Gap

In the past 18 months, the Postal Service recorded $19 billion dollars in net losses, and has defaulted on $11.1 billion dollars in retiree health benefits payments to the U.S. Treasury. And, without legislation, we will be forced to default on our $5.6 billion dollar payment due September 30, 2013. Our liquidity also remains dangerously low.