Tuesday, 31 July 2012 16:54

Post Office Nears Historic Default On $5-Billion Payment

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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.

 

Business Insider article

 

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