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Post office may need an urgent rate increase, Congress is told

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It’s called snail mail because it’s slow compared with its electronic competitors — and electrons, unlike humans, work for free.

The U.S. Postal Service is in “the midst of a financial disaster” and may need an emergency increase in postage rates to keep operating, Postmaster General Patrick Donahoe warned Thursday.

The agency’s plight comes despite a 1-cent rate increase on first-class mail that took effect in January. A first-class stamp now costs 46 cents.

“The Postal Service as it exists…

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