Canada Post is losing roughly $10 million a day, and yet Ottawa continues to pretend this is a temporary problem that can be fixed with one more loan, one more “modernization plan,” or one more appearance before a Commons committee filled with vague assurances.It is none of those things. Canada Post is a structural failure, and Canadians are being forced to pay for it with their tax dollars (and debt).This year alone, the Crown corporation expects to rack up about $1 billion in losses. That figure is not a projection pulled from a Poilievre talking point or slogan. It came directly from Canada Post CEO Doug Ettinger while testifying before the House of Commons Government Operations committee. The corporation has already burned through a $1.034-billion credit line approved earlier this year, and now executives are back in Ottawa asking for more..They won’t even say how much more they want to throw into the void.Chief Financial Officer Rindala El-Hage confirmed the entire $1-billion loan is gone.“We’ve exhausted that,” she told MPs, adding that discussions with the minister’s office are still ongoing and that there is no timeline for approval.Unnamed sources suggest the next request could be another $500 million in taxpayer-backed financing.All of this is happening while Canada Post admits it will not break even until at least 2030, even after service cuts such as replacing home delivery with community mailboxes..When Conservative MP Tamara Jansen asked whether taxpayers could expect to be repaid before then, Ettinger hesitated. He eventually conceded that the corporation will need to spend heavily for years just to keep the lights on.This is exactly why Canada Post is a hemorrhage on the Canadian economy and government.Canada Post doesn't have the same market issues as a start-up or small business. It is a decades old government-funded monopoly that has bent the knee to unions and is bleeding Canadians dry with poor business practice and underhanded strike tactics.Mail volumes have been declining for years. Canadians pay bills online. Businesses rely on private couriers..Yet, Canada Post remains locked into outdated labour agreements, an oversized physical footprint, and a political mandate that resists real reform. Every year, executives promise modernization. Every year, losses deepen.At $10 million a day, this is no longer a rounding error buried in a federal budget that already runs chronic deficits. It is a slow financial bleed that never seems to end. And unlike private companies, Canada Post does not face the discipline of bankruptcy, restructuring, or market exit. Its losses are simply socialized.Supporters argue Canada Post provides an essential service, particularly in rural and remote communities. Many of those supporters are in rural Quebec where the Liberals have been making headway in recent elections.What Canada Post offers to most Canadians instead of a thriving crown-corp is a nationalized delivery system that burns cash while refusing to confront reality..Ottawa’s response so far has been telling. Public works officials admit negotiations are ongoing to “keep the postal service running” amid worsening financial pressures. Not to fix it. Not to reform it. Just to keep it running.That is not a plan. That is throwing money into a pit, setting it on fire and looking at the vote count go up.At some point, Canadians deserve an honest conversation about whether Canada Post, as it currently exists, is sustainable at all. That means asking uncomfortable questions about labour costs, delivery mandates, privatization, or breaking up the monopoly entirely. It also means admitting that endless loans are not solutions.Every dollar poured into Canada Post is a dollar not spent on healthcare, infrastructure, or tax relief. More importantly it is a dollar that could have been put into a Canadian's pocket or use to settle our growing deficit.An organization that loses $10 million a day does not need another bailout. It needs to shut down. The money pit needs to be closed permanently.
