It's part of his economic growth and debt reduction plan unveiled today. The Postal Service has been considering closing more than 100 post office locations in Minnesota and cutting 120,000 jobs nationwide.
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The U.S. Postal Service is pushing ahead with unprecedented cuts to first-class mail next spring that will slow delivery and -- for the first time in 40 years -- eliminate the chance for stamped letters to arrive the next day.
The U.S. Postal Service is looking to keep rural post offices open with reduced hours. That's good news for several Minnesota locations facing closure or consolidation starting next week.
The company blamed "slowing economic growth" as sales of consumer electronics fell. The Financial Times says 3M is a leading indicator of consumer trends.
Starting in January, express mail prices will shoot up more than $5. Officials say the post office could face bankruptcy as soon as September unless Congress makes changes like closing locations and reducing delivery to five days a week.
The plan will also cut federal contributions to crop insurance programs and land conservation programs. Obama has proposed a total of $3 trillion in deficit reduction.
The cash-strapped U.S. Postal Service will increase postage rates by a penny to 45 cents for first-class mail next year. The increase is an attempt to recoup some of the $8 billion the agency lost last year.
Students at Minnesota's state colleges and universities say they'd lose $76 million in aid if proposed cuts in the Pell Grant program are enacted. They're petitioning the Congressional delegation to reject the cuts, which they say would push students deeper into debt.
The Austin Daily Herald reports Doyle Tarrence of Spring Valley is accused of stealing money from greeting cards in the Lyle area last year. According to court records, the 47-year-old postal carrier has admitted to taking $200 to $300 over a four-month period.
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