pat donahoe, you testified before congress last week or the week before. how encourage argue -- you expressed your urgency to get approval to have the legislation. from your testimony in talking with the members, how encouraged were you that there will be fast action on this considering all of the bipartisan -- the partisanship going on on the hill and that sort of thing. how encouraged are you, and do you think we will seek quick movement on this? >> well, one thing that i think was encouraging was the administration came out and said they would support the 90 day extension on the payment which gives as breathing space. when i say us, i mean postal service, administration, and congress. we are looking for bipartisan work. definitely an opportunity for everybody to get together because the postal service is still a critical part of the american economy. we are not going out of business. we are not pulling out of business. we are trying to get our finances in order so we can stay in business to provide excellent service for a long time to come. we think tha

pat donahoe, you testified before congress last week or the week before. how encourage argue -- you expressed your urgency to get approval to have the legislation. from your testimony in talking with the members, how encouraged were you that there will be fast action on this considering all of the bipartisan -- the partisanship going on on the hill and that sort of thing. how encouraged are you, and do you think we will seek quick movement on this? >> well, one thing that i think was encouraging was the administration came out and said they would support the 90 day extension on the payment which gives as breathing space. when i say us, i mean postal service, administration, and congress. we are looking for bipartisan work. definitely an opportunity for everybody to get together because the postal service is still a critical part of the american economy. we are not going out of business. we are not pulling out of business. we are trying to get our finances in order so we can stay in business to provide excellent service for a long time to come. we think tha

postmaster general, pat donahoe, on the future of the u.s. postal service. after that, different perspectives on the global economy. then the international monetary managing director. and an outline of the chinese economic policy. the u.s. postmaster general announced 35,000's employees might lose their jobs even though the postal service is not going out of business. he made those remarks at the postal service headquarters in washington. this is about 45 minutes. >> we are doing this to delay the audition for a's service that will have a sustainable model their -- far into the future. we must create a low-cost operation on network. our immediate goal is to reduce costs by $20 billion by 2015. we have to meet this goal to return to profitability. megan is playing a big role in what we are doing now and saving the postal service going into the future. >> the i am going to walk you through some changes to our network that will change our operating model. it will change the way the postal service processes mail for decades to come. we are responding to a changi