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September 6, 2011

Is the post office too big to fail? Maybe not

Talk in recent weeks of post office closings and the elimination of Saturday mail delivery has shifted to a more dire prospect: The entire U.S. Postal Service could go out of business within a year. Postmaster General Patrick Donahoe said the postal service is running out of money and could go into default as soon as next month unless Congress acts, he testified at a Senate hearing Tuesday.

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