Word: prereform
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Dates: during 1970-1979
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What has been the situation in the operations of the Postal Service? Federal fiscal year 1971 was the last year under the "prereform" postal system, the long-existing system under which postal rates and postal expenditures were set by Congress. Fiscal year 1972 was a period of transition. In fiscal year 1973, the first year of full operation, the "reform" postal system generated a deficit of $13 million. In fiscal year 1974, the deficit had swollen to $438 million; in fiscal year 1975, which ended this summer, the deficit was $825 million; and in the current fiscal year, which will...
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