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Gene Ellis

Postal Service Reports Improved $5 Billion Loss - NYTimes.com - 0 views

  • Postal Service Reports Improved $5 Billion Loss
  • It attributed the net loss mostly to a 2006 law that requires it to pay $5.5 billion annually into a health fund for its future retirees.
  • As a result of its financial troubles, the agency has defaulted on three annual payments into the fund. It has also exhausted its $15 billion borrowing limit from the Treasury Department. More recently the agency has asked for permission to
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  • raise its postage prices to help cover costs.
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