The link above is to the Whitehouse website showing the Presidential Signing Statement for the Postal Accountability and Enhancement Act. Among other statements of how the Executive branch will interpret the new law, Bush says:
The executive branch shall construe subsection 404(c) of title 39, as enacted by subsection 1010(e) of the Act, which provides for opening of an item of a class of mail otherwise sealed against inspection, in a manner consistent, to the maximum extent permissible, with the need to conduct searches in exigent circumstances, such as to protect human life and safety against hazardous materials, and the need for physical searches specifically authorized by law for foreign intelligence collection.
Yow! The Seattle Times article reports
"Despite the president's statement that he may be able to circumvent a basic privacy protection, the new postal law continues to prohibit the government from snooping into people's mail without a warrant," said Rep. Henry Waxman, D-Calif., the incoming House Government Reform Committee chairman, who co-sponsored the bill.
Experts said the new powers could be easily abused and used to vacuum up large amounts of mail.
"The [Bush] signing statement claims authority to open domestic mail without a warrant, and that would be new and quite alarming," said Kate Martin, director of the Center for National Security Studies in Washington.
"You have to be concerned," a senior U.S. official agreed. "It takes executive-branch authority beyond anything we've ever known."
A top Senate Intelligence Committee aide promised a review of Bush's move.