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Post office nears historic default on $5B payment

July 31, 2012
By HOPE YEN , THE ASSOCIATED PRESS

WASHINGTON - The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency's solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink.

 
 

 

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