she wants post master general patrick donohoe removed. she's the president of the national rural letter carrierses association. thanks for joining us, first of all, on an important day. >> thank you for having me. >> i put the numbers -- the pen and paper to numbers. 80,000 per postal employee. how in the world do you expect he to compete when you have 629,000 employees and you're tacking on $16 billion of loss a year? aren't there too many letter carriers? >> absolutely not. my union is the rural letter carriers association, national rural ler carriers association union, and over 50% of my craft is a part-time employee that works only on saturday or when needed. they have no benefits of any type. >> okay. with all due respect, that's your union. the national letter carriers union is 629,000 employees. 500,000 strong. who knows what the number is, but you can't keep adding 10 to 15 billion dollars onto debt to keep running up these deficits year after year. something has to change. what's the answer? do we raise -- hold on. do we raise th

joining us now is postmaster general patrick donohoe. and welcome to you. you spoke today being in a "very scary position financially." how scary? >> well, here's where we are right flow. now. as you mentioned we had a pretty substantial loss last year and those were accounting losses. $11.1 billion of the $15.9 is attributed to prepayment for retiree health care that we didn't pay. we defaulted. you have to count that in terms of your accounting rules. so what happened last year, when all was said and done, we had a loss of about $2 billion are a little over $2 billion from an operating revenue perspective. the problem that you have going forward is each year that we've had these losses brings the cash levels down farther and further. at one point in october we had four days of cash on hand. that's entirely too small amounts of money for an organization our size or any size. >> brown: you wanted to do this stop the saturday delivery for a while and congress said no. this time you think you can go ahead. is this getting around congress? >> the way we interp

. >>> post master general patrick donohoe was on capitol hill wednesday.e begged congress not to block plans to end saturday delivery. ending first-class delivery on saturday would saving the agency $2 billion a year. the postal service lost $1.3 billion in the final three months of last year. >>> americans are cutting back on spending last month. the government said retail sales went up a tenth of a percent in january after going up half a percent in december. the small increase suggests the expiration of the payroll tax cut and higher tax rates for wealthy americans are hurting the economy. >>> and spending is in the air this valentine's day. the national retail federation says sales are up this year, averaging around $130 per person. that's about $4 more than last year. men will spend almost twice as much as women. guys will plunk down an average of $175 while the ladies will spend just $88. and what happened to love doesn't cost a thing? >> is that what they say? i was planning on putting a little sticky note on the fridge to, you know nudge someone, g

joining us now is postmaster general patrick donohoe. and welcome to you. you spoke today being in a "very scary position financially." how scary? >> well, here's where we are right flow. now. as you mentioned we had a pretty substantial loss last year and those were accounting losses. $11.1 billion of the $15.9 is attributed to prepayment for retiree health care that we didn't pay. we defaulted. you have to count that in terms of your accounting rules. so what happened last year, when all was said and done, we had a loss of about $2 billion are a little over $2 billion from an operating revenue perspective. the problem that you have going forward is each year that we've had these losses brings the cash levels down farther and further. at one point in october we had four days of cash on hand. that's entirely too small amounts of money for an organization our size or any size. >> brown: you wanted to do this stop the saturday delivery for a while and congress said no. this time you think you can go ahead. is this getting around congress? >> the way we interp

. >> at a hearing yesterday patrick donohoe told senators the postal service needs their help. last year, keep in mind, the post office loft nearly $16 billion. >>> and the "los angeles times" says researchers believe they may have spotted the youngest black hole in the galaxy and it's not fashion only 200,000 light years away. some say a black hole could provide a passage to ano >> announcer: this national weather report sponsored by kay jewelers. every kiss begins with kay. >>> this morning los angeles police are defending the fiery end to the shoot-out with christopher dorner. we did not intentionally burn down that cabin to get mr. dorner out. >> our carter evans with new details on how things ended. >>> and another dangerous man is on the loose outside dallas. the search for the man who made a dramatic escape and now has an entire state on alert. >>> plus, we visit a town where people say it's taking too long to dig out because officials took the day off. that's ahead on "cbs this morning." >> announcer: this portion of "cbs this morning" sponsorsore i ed by sargento chees

in our 4:00 hour we will have a rare one-on-one interview with the postmaster general himself, patrick donohoeeanwhile, we'd love to know how you would fix the post office. tweet me, there it is right there @craigmelvin, one word. you can also post on my facebook page, as well. we could use some of your suggestions if they're not totally ridiculous or obscene we might use them on the air. in america today we're running out of a vital resource we need to compete on the global stage. what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ ♪ but will it stay fabulous 'til 5 o'clock? it will if it's new outlast stay fabulous foundation from covergirl. what makes it so flawless hour after hour? primer, concealer and foundation, all in one. get the longwear