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the post office will default on a $5.5 billion payment later this month if it doesn t get congressional help. the big problem, of course, increasing costs, mostly labor costs, in the face of declining mail volume. most people are using the internet, of course, for mail these days. so will the post office be able to survive at all? here s the postmaster general from earlier this summer. we do feel that we are still very relevant to the american public and the american economy, but we also have to make some pretty tough choices as we work through some of the football issue financial issues that we face. reporter: a spokesman telling me the post office would like to cut 220,000 jobs by 2015, but right now there are iron-clad union contracts that prohibit layoffs, and the postal union is not happy with the idea of changing that. its president says this is a clear attempt to abrogate our contract and destroy postal collective bargaining. cutting postal we might find

Post officeLabor costsEmail volumeDoesnt get congressional help5 billion5 billionSouth americaPostmaster generalFootball issueCollective bargaining