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USPS loses $5 billion

Washington - It has been another bad year for the U.S. Postal Service

The Service announced a $5 billion loss over the past year.

This announcement marks the seventh straight year of a net loss for USPS.

The U.S. Postmaster General said this increases the urgency for Congress to let the Postal Service end Saturday delivery and reduce payments for retiree health benefits.

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Washington Times