U.S. Postal Service running out of money

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USPS suffers 'historic' losses

PHOENIX - The United States Post Office is running out of money.

The postmaster general announced on Wednesday that the postal service is facing "historic" losses and is expected to run out of money this year.

He wants to cut mail delivery down to five days a week instead of six, which could save about $3.5 billion a year.

The idea was first proposed in January but lawmakers did not like the idea.

Now the postal service is looking for help but not a bailout.