U.S. Postal Service Reports Over Two Billion In

The United States Postal Service says it needs to change its business model, especially now that it lost more than two-billion dollars in the most recent quarter.

The agency believes by September, it could default on some of its payments to the federal government.

The Postal Service wants Congress to change federal laws so it can save money by getting rid of Saturday delivery.

Another issue is a 2006 law which requires the service to pay more than five-billion-dollars a year into its prepaid retiree health benefits.

It is also dealing with rising gas prices and fewer mailings.

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