Economics Report.The United States Postal Servicehas a historyas long as the nation's.The Second Continental Congressappointed Benjamin Franklinas the first Postmaster Generalin seventeen seventy-five.This week,current Postmaster GeneralPatrick Donahoebrought an urgent messageto a Senate committee.He told the Committeeon Homeland Securityand Governmental Affairsthat the Post Office could needmore money by the end of the month.PATRICK DONAHOE: " Without the enactmentof comprehensive legislationby September 30, the Postal Servicewill default on a mandated5.5 billion dollar paymentto the Treasury to pre-fundretirement retiree health benefits.Our situation is urgent."The Postal Service had losses ofalmost six billion dollarsfor the nine-month periodending in June.That could grow to ten billionfor the year.Part of the deficit is a fiveand a half billion dollar paymentto the federal retirement planfor postal workers.Mister Donahoe is asking Congressto approve huge changesto the Postal Service.He wants to cut overone hundred thousand workers,close thousands of post officesand end Saturday mail delivery.He says the service needsto operate more like a business.PATRICK DONAHOE: "As a self-financingentity that depends on the saleof postage for its revenues,the Postal Service requiresthe ability to operate moreas a business does."The Postal Service is responsiblefor its own financingand not part of the federal budget.But it does take partin federal retirementand health plans.It says it has paid too muchto federal retirement plansand wants at least sevenbillion dollars returned.Mister Donahoe also wantsto pull the Postal Serviceout of the federal benefit plans.He says the service's proposalscould cut twenty billion dollarsby twenty fifteenand return it to profitability.John Berry is directorof the federal Officeof Personnel Managementwhich supervises federalretirement and health plans.He said the Obama administrationwould soon announce its own plan.At the hearing, SenatorSusan Collins criticizedthe administrationfor not having a plan already.Leaders of two labor unionsrepresenting postal workershave also criticized the proposed cuts.The United States Postal Servicehas over five hundredsixty thousand employees.It reported revenue ofsixty-seven billion dollars last year-- more than either ofits biggest private competitors,FedEx or UPS.But as the amount ofphysical mail decreases,so too have the earningsfrom Postal Service operations.Committee member Joseph Liebermannoted the need for change.JOSEPH LIEBERMAN: "The US Postal Serviceis not an 18th Century relic.It is a great 21st Century national asset.But times are changing rapidly now,and so too must the Postal Serviceif it is to survive."And that's the VOA Special EnglishEconomics Report.