Postmaster General Patrick Donahoe provides a synopsis of the organization's financial situation and take questions in an address at the National Press Club.
The Postal Service lost $8 billion in 2011 and is likely to post larger losses this year. A bill to overhaul the U.S. Postal Service was marked-up this month by a Senate Committee which contains proposals to cut Saturday delivery and closing some post offices.
Postmaster Donahue provides his thoughts on the legislation moving through Congress and details the USPS's revenue and costs leading into fiscal year 2012. He also explains his reasons for cutting thousands of jobs, closing thousands of local Post Offices and possibly ending Saturday delivery. He also addresses concerns about postal workers’ health and retirement benefits.
He was named the 73rd Postmaster General of the United States of America on October 25, 2010.