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The Nation

July 10, 1985

The U.S. Postal Service is likely to finish the year with a loss of as much as $500 million, the chairman of the agency's Board of Governors told the House Post Office Committee. Chairman John R. McKean said the financial results "are apparently attributable to a number of factors, including overly optimistic volume projections." But, he said there are no plans for a new increase in mail rates on top of the increase that took effect Feb. 17.

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