Collins says Postal Service situation is 'dire'

Sen. Susan Collins (R-Maine), in an an op-ed on Thursday, described the U.S. Postal Service's financial situation as "dire" but said she and a bipartisan cadre of senators are determined to ensure its survival.

"The situation is dire, but not hopeless," wrote Collins, a senior member of the Senate Committee on Homeland Security and Governmental Affairs, which is responsible for the Post Office. "If we don't [take action] the Postal Service will fail, destroying an American institution enshrined in the Constitution. We cannot allow that to occur."

Collins went on to warn that at its current pace, the Post Office would likely go belly-up by this summer.

"We are not crying 'wolf,' " she wrote. "If nothing is done, the Postal Service will not be able to make payroll next summer — stopping mail delivery in its tracks and wreaking havoc on our already fragile economy ... the demise of the Postal Service would devastate our economy."

To prevent that outcome, Collins, along with East Coast Sens. Joe Lieberman (I-Conn.), Tom Carper (D-Del.) and Scott Brown (R-Mass.), have introduced the the 21st Century Postal Service Act, a bill that would help the Post Office balance its books in time to prevent bankruptcy. 

The plan would reduce operating costs by about $8 billion by directing the postmaster general to reduce the workforce and cause the reductions in infrastructure to properly reflect the decreased demand that has resulted from the rapid expansion of communication technology.

"For example, in some communities, the Post Office might co-locate in the local convenience store, pharmacy or grocery store," Collins wrote in the op-ed, printed in the Dover, N.H., newspaper the Foster's Daily Democrat on Thursday.

The plan would also seek to raise revenue by allowing the Post Office to ship products currently banned, like wine and beer.