news.yahoo.com/s/ap/20051206/ap_on_go_ot/postal_finances
AP Postal Service Climbs Out of Debt By RANDOLPH E SCHMID, Associated Press Writer Tue Dec 6, 1:40 PM ET WASHINGTON - The Postal Service is in a position not many Americans can c laim: debt free. But even a projected surplus won't stop next month's po stal rate increase, which the service says is needed to cover a congress ionally mandated expense.
It's the first time the Postal Service has been without debt since it was organized from the old post office in the 1970s. The price of a fi rst-class stamp will go from 37 cents to 39 cents and other rates will r ise accordingly. And since January's increase is needed solely to cover the escrow require ment the agency is expected to announce another increase next year to ta ke effect in 2007, to cover rising costs. Fiscal 2005 was also the first time advertising mail has topped first-cla ss mail in volume. The post office handled more than 100 billion pieces of what it calls standard mail, compared to 98 billion first class lette rs. Both were up and total mail volume rose 27 percent to 212 billion items, the agency said.
The informati on contained in the AP News report may not be published, broadcast, rewr itten or redistributed without the prior written authority of The Associ ated Press.
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