50-cent stamps, anyone? That's one of the changes the postmaster-general wants Congress to act on quickly if the service is to survive, reports the Wall Street Journal. That increase of a nickel for a first-class stamp is actually one of the minor proposals from Patrick Donahoe. He also laid out plans to cut 150,000 jobs (mostly through retirements), to extend delivery times for long-distance mail, and to have the postal service cut ties with the federal health benefits program.
Those proposals are on top of an expected end to Saturday delivery. Without the fixes, the USPS will have yearly losses of about $18 billion by 2015, Donahoe told Congress. "These prospective losses would be unsustainable and would cause the Postal Service to become a long-term burden to the American taxpayer." He spelled out the dire scenario to lawmakers today—in a letter. (Read more USPS stories.)