USPS reports $2.2 billion loss, warns of default - May. 10, 2011: "NEW YORK (CNNMoney) -- The U.S. Postal Service continues to hemorrhage money, with a loss of $2.2 billion in the most recent quarter.
The national mail service said Tuesday that it expects to have a cash shortfall and reach its statutory borrowing limit by the time its fiscal year ends in September. That means the agency could be forced to default on some of its payments to the federal government."
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