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US Post Office Faces First-Ever Default on a Payment

Posted August 1st, 2012 at 6:40 pm (UTC-5)
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The United States Postal Service says for the first time in history, it will default on a payment into fund for health benefits for future retirees. Postal officials say they do not have the $5.5 billion owed to the U.S. Treasury Thursday. Officials also say they will likely miss another $5.6 billion owed in September. […]

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