The U.S. postal service is losing money and the situation is growing more serious by the day.
If congress doesn't act by August 1st, the service will default on a 5.5 billion dollar payment to the federal government to cover retiree health benefits.
It would be the first default in its more than 200 year history.
Losses from a sluggish economy and the growing number of people paying their bills online, have forced the service to tap a nearly13 billion dollar treasury department loan to make ends meet.
The service has a plan to cut costs by 22.5 billion dollars by 2016 and return the service to profitability.
|9:00pm||Victoria's Secret Fashion Show|
|10:00pm||WTVY News 4 at Ten|
|9:00pm||Law & Order: SVU|
|7:00pm||The iHeartRADIO Album Release Party with Katy Perry|
|8:00pm||The iHeartRadio Album Release Party with Lady Gaga|
|9:30pm||Primetime News at 9|