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Archive for Wednesday, December 7, 2005

Postal Service climbs out of debt

December 7, 2005

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The Postal Service is in a position not many Americans can claim - debt free - but even a projected surplus won't stop next month's postal rate increase, which the service says is needed to cover a congressionally mandated expense.

Once $11 billion in the red, the post office paid off the remaining $1.8 billion of its debt in 2005.

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