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This photo taken July 27, 2012 shows a mailbox outside a US Post Office in Lawrence, Mich. The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency's solvency as first-class letters plummet and Congress deadlocks on ways to stem the red ink. (AP Photo/Robert Ray)

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Post office nears historic default on $5B payment

The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury.

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