Debt Elimination


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    The press for a federal bailout of the auto industry increased over the weekend. House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., said in a letter to Treasury Secretary Henry Paulson that the Bush administration should consider expanding the $700 billion financial rescue to include car companies.
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    Here's a stunning number: The Census Department reported on Thursday that the U.S. trade deficit declined to its lowest level in a year, to $56.5 billion. But Calculated Risk observes that the bilateral trade deficit with China rose to an all-time ...
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