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Postmaster: Money woes behind rate hike request

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WASHINGTON (AP) — Postmaster General Patrick Donahoe said Thursday the Postal Service had no choice but to ask for an emergency rate hike given the agency's dire finances. One day after his cash-strapped agency proposed raising the first-class stamp price to 49 cents, Donohoe urged swift action by Congress to overhaul the Postal Service and fix its finances. The post office expects to lose $6...

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