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USPS posts $1.7 billion in losses

Published on .

Washington--Hit by the recession and anthrax-related clean-up costs, the U.S. Postal Service announced it lost $1.7 billion this year. To make up for the shortfall, the USPS is seeking between $2 billion and $5 billion from Congress. It has also applied for a rate increase that would take effect the end of next year, which would raise the price of a first-class stamp to 37 cents.
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