White House to Try to Save Postal Service

The White House is planning to propose to help the Postal Service, which is at risk of a shutdown next year, by giving it an extra three months to make a $5.5 billion payment due September 30. The White House would follow this move with a plan to help USPS get its finances in better shape. The White House has not said whether it will endorse a move to claw back $50 billion that the Postal Service overpaid into a federal pension plan—a move that would alleviate much of its pain. USPS is considering cutting Saturday delivery, closing 3,700 post offices, and laying off 120,000 workers.