guffey, please proceed. >> i am president of the american postal workers union. i am pleased to participate in this hearing today a representative and the inspector general who have done much to help preserve and protect united states postal service. this is a that relief is necessary to restore the financial stability of the postal service. the apw appreciate the leadership and proposing legislation that will be the need for immediate financial relief. we support the proposals to permit the service to use more than $5 billion each year from its overpayments in the civil service account to meet its obligations to pre fund benefits and pay workers complain -- worker's compensation's obligations. this is not a request for a subsidy or a bailout. the postal service has been dealing effectively with the challenges it is facing because of declining mail volumes. we are confident that under the leadership of the postmaster it will continue to do so. exhibit a to this testimony is a chart that shows that the postal service net income for 2007 through 2010 -- during this

thanks for joining. >> and cliff guffey president of the american postal workers union. i am pleased to participate in the hearing today with the representative margaret cigno and inspector general williams who have through their hard work dedication and leadership, much to preserve and protect the postal service. as a chairman of this committee knows legislative relief is necessary to restore the financial stability of the postal service. the p.w. appreciates the leadership shown in proposing legislation there will meet the postal service critical need for the immediate financial relief. we strongly support and the entire coastal communities strongly supports the proposal to permit the postal service to use more than 5 billion each year from its overpayment in the civil service retirement account to meet its obligation to refund postal retiree health benefits and pay workers' compensation obligations. it bares emphasis that this is not a request for a subsidy or bailout of the postal service. the postal service says been dealing with the challenges because of the declin

thanks for joining. >> and cliff guffey president of the american postal workers union. i am pleased to participate in the hearing today with the representative margaret cigno and inspector general williams who have through their hard work dedication and leadership, much to preserve and protect the postal service. as a chairman of this committee knows legislative relief is necessary to restore the financial stability of the postal service. the p.w. appreciates the leadership shown in proposing legislation there will meet the postal service critical need for the immediate financial relief. we strongly support and the entire coastal communities strongly supports the proposal to permit the postal service to use more than 5 billion each year from its overpayment in the civil service retirement account to meet its obligation to refund postal retiree health benefits and pay workers' compensation obligations. it bares emphasis that this is not a request for a subsidy or bailout of the postal service. the postal service says been dealing with the challenges because of the declin

service, the arbitrator should consider -- we recently conducted a negotiation with the american postal workers union. i think it was a very good responsible contract by both sides. that's a great thing. and i think was a partnership between hallmark he used pictures he had taken visiting a month or two earlier and made a beautiful mother's day card and was delivered by the postal service. our next-door neighbors get netflix and a good piece of. business and i'm not sure how it will be when people move into i 'treaming but it's a nice piecet of business and the kind ofthinw thing we want you to do more ane more of. i want to ask a question -- i want to ask a question about hot the postal financial bill that we consider here in converse go beyond the pension and health issues. how important is that? >> it is critical. as i mentioned to senator brown, what happens is if we just address the retiree health benefits that just gets us through this year from the cash standpoint and if you recall we lost $8.5 billion unfortunately this year we are predicting losses around a billion dollars so you can see if

. >> and cliff guffey president of the american postal workers union. i am pleased to participate in the hearing today with the representative margaret cigno and inspector general williams who have through their hard work dedication and leadership, much to preserve and protect the postal service. as a chairman of this committee knows legislative relief is necessary to restore the financial stability of the postal service. the p.w. appreciates the leadership shown in proposing legislation there will meet the postal service critical need for the immediate financial relief. we strongly support and the entire coastal communities strongly supports the proposal to permit the postal service to use more than 5 billion each year from its overpayment in the civil service retirement account to meet its obligation to refund postal retiree health benefits and pay workers' compensation obligations. it bares emphasis that this is not a request for a subsidy or bailout of the postal service. the postal service says been dealing with the challenges because of the declin