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Both candidates Mr. Trump and Mr Biden put forward their positions on immigration, the coronavirus response, the economy, and racial justice, in the final debate of 2020. This was a calmer debate with policy details and the candidates delivered their points without the sharp attacks of the earlier debates. At some points in the debate the discussion turned to Mr. Biden and dealings of son Hunter Biden with a Ukrainian company. Mr. Biden raised the issue of Mr. Trump's tax returns not being disclosed. The Affordable Care Act and coverage for Americans lacking health care, immigration and the wall with Mexico, and the oil industry were other issues in the debate.

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At 79 years, Wilbur Ross will be one of the oldest people serving in any administration, as he serves as Commerce Secretary in the Trump administration. Wilbur Ross is best known for the turnaround efforts in the steel industry. In 2002 he acquired LTV Corp, a third largest steel producer in the U.S. facing tough times and legacy costs, for $125 million in cash and $200 million in environmental liabilities. In 2005 he sold his International Steel Group to Arcelor Mittal for $4.5 billion, and is still an independent director on the Arcelor board. Ross's earlier experience was as a bankruptcy specialist at Rothschild Inc. in the 1970's working on restructurings at Texaco, TWA and Continental Airlines. Analyst Charles Bradford is cited in this report by WSJ's John Miller, who competed with Ross in restructuring proposals for failing assets, and describes Ross as working harder and being tougher to make the deals. Some of these restructurings involved cutting pensions and large layoffs. The entire U.S. steel industry faced problems from foreign competition and legacy costs at the time. This included representing bondholders for Taj Mahal Casino in Atlantic City. At the time Ross told creditors considering seizing the asset for a possible missed payment that it would be better to keep Trump in charge for Trump properties as they would be worth more with Trump inside. This led to Ross later providing critical backing for the Trump campaign and raising money from the business community. Mitt Romney had similiar work at Bain Capital in turnaround of failing companies, later turning to politics as Governor of Massachusetts, and 2012 Republican nominee for president. Both Romney and Ross have come under criticism for their role in cost cuts at companies involving layoffs and cutting worker benefits. ...

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Mr. Kasowitz  is hired by U.S. president Trump as his personal attorney on the Russia probe by Congress of ties between the Trump campaign and Russia. Kasowitz  has worked with Trump for 15 years helping keep his divorce records sealed, and in lawsuits. He is known as an aggressive litigator with his own firm of 270 attorneys- Kasowitz, Benson Torres LLP. This follows the appointment of Special Counsel Mueller to investigate Russian interference in the U.S. election with wide ranging powers. This report says Senator Joe Lieberman who is being considered for the post of new FBI chief works at this law firm, creating a potential conflict of interest situation.

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U.S. president Trump announces withdrawal from the Paris climate change accords, saying the U.S. will consider re-entering the agreement  or coming up with a new deal. He said "I was elected to represent Pittsburgh, not Paris." Trump said he was concerned about the environment, and avoided saying climate change scientific evidence was not correct. He based his concerns on the idea that China and India were getting an unfair financial advantage over the U.S. The U.S. had pledged under the Paris accords to reduce greenhouse gas emissions by 28% from 2005 levels by 2025. The WSJ's Stokols and Ballhaus point out that president Trump had the option because of the nonbinding agreements committing nations to a broader goal of reducing emissions to combat temperature change of of 3.6 degrees F, to have modified emissions targets and still remained in the Paris accords. For Trump the motivation may have rested more on politics to shore up support in the Republican party which has largely opposed climate change targets.  ...

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Maureen Dowd's conversation with Donald Trump in Jan 2016 just after the seventh Republican presidential debate in which Trump opted out. She describes him as a person who can be sensitive himself, and yet not be sensitive to what he says about others and how that is seen by the public, especially for his comments on women. He feels that Fox News is pushing him around, not that he made comments about Megyn Kelly such as "bimbo," and "lightweight." Couldn't Trump just withdraw these words, asks Maureen. Trump says he doesn't have to make up because he is enormously successful. Yet when Maureen tells him about Newt Gingrich's statement to Fox News that Trump was acting with petulance in his response to what Gingrich saw as a poorly worded newsrelease from Fox News, and that it would "shrink" Trump, Donald sounds like he feels offended.

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A Dreamers deal between president Trump and Democrats looks less likely now after meetings between the two parties show Democrats and Republicans have little they agree on. A meeting on January 11, 2018 was convened to discuss a proposal from Senator Durbin, Senator Graham and four other senators that would allow children who arrived in the U.S. with their parents (the Dreamers in the DACA Act of president Obama) to stay in the country with a path to citizenship, give $1.6 billion for a wall or fence on the U.S. southern border with Mexico, and change the diversity visa lottery to move to a merit base system.  President Trump's remarks at the meeting disputed by the president and confirmed by some senators have created added animosity. Trump is reported to have made some remarks derogatory to immigrants from Haiti, while saying why not get more immigrants from Norway, as Trump prefers a merit based system. The remarks have alienated African countries and were refuted in Norway. This also complicates the situation for the U.S. image overseas as diplomats struggled to represent the U.S. in a different light. In Congress the presidents remarks make it more likely that Democrats and some Republicans will make it harder to pass spending bills including on defense. As a result short term spending approval action will be taken, and there will be a prospect of government shutdown. ...

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Democrats face an uphill battle to recover lost territory during the Obama presidency. The efforts to promote Trans Pacific Trade Agreement by Obama against the interests of the unions, working class Americans, is one example of the way president Obama had alienated working class Americans. By being too close to Silicon Valley and failing to understand the changes in states with blue collar workers Democrats lost some of the working class base that had always voted Democratic. On social issues the party drifted too far in one direction in appealing to small groups and in the process drifting away from blue collar workers who were Democratic in the past but did not share the same passion for these issues. About 90% of better educated Americans were liberal yet among blue collar workers who had voted Democratic in the 1990's only 60% were liberal in the same way. The changes in America's landscape with the shift of manufacturing centres away from cities such as Pittsburgh to blue collar suburbs stretching from Michigan and Wisconsin to the Carolinas and the Deep South, created a new blue collar worker base that was more aligned with Republicans on social issues such as abortion, LGBT, and gun control. As a result the conservative base of the Republican Party now finds itself aligned with the blue collar worker, while the Democratic Party in places like New York and California is more aligned with the workers in the financial industry and in Silicon Valley. The improving economy gives more room for Republicans even with policies that might not help its new working class base as it strives to meet policy demands from wealthier Americans in the Republican Party.   ...

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Ann J. Selzer who does the polling for the local Iowan Des Moines Register for three decades says- “It’s hard for anybody to say they saw this coming.” Yet the process does drive results. The only time Democrats did poorly in Iowa with reason was under Hillary Clinton, and it was clear that Obama did not have Tom Vilsack's back. Vilsack the three time popular governor of Iowa was Agriculture Secretary, yet Obama distracted by Silicon Valley did not give the support he needed. Joe Biden as president made Tom Vilsack one of, if not the most important part of his Domestic Agenda, underlining also to all that foreign policy would be driven by domestic agenda, and by domestic is meant in large part long neglected Rural America. Growing up as an adopted child in difficult childhood, Tom Vilack represented the best of Iowa and America in his public service in the state and the entire Great Prairie states that form the heartland of America's breadbasket, and for the world.   ...

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U.S. president Obama offers his own assessment of the divisive rhetoric of Trump and its origins in the way the Republican Party has opposed him throughout his two terms, including opposition to Obamacare, and ways to tackle poverty, joblessness, without offering alternatives. He says conservative news outlets encouraged this trend till Mr. Trump said he could do this better by raising the level of rhetoric. Democratic candidates Hillary Clinton, Bernie Sanders and voices in the Republican Party are critical of the way Trump conducts his rallies, and the abusive rhetoric for Latinos, Muslims and minorities.

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This is an indepth article on Donald Trump's financial holdings, looking at the debt that Trump has built up in his real estate dealings, by Susanne Craig of the NYT. To get a detailed look of this the NYT inquiry into the holdings engaged RedVision Systems, a national property information firm to search publicly available data. Much of Trump's business is shrouded in mystery. But it is well known that Trump has used debt to build his business in a way that is not considered good practice in business, having led to three bankruptcies. Trump says he "is the king of debt." And "he loves debt." The recovery of real estate values during a rescue effort for the country's financial system also helped Trump tackle debt in a way that was not available to other entrepreneurs who suffered from the oil price collapse- one of them McClendon also used debt aggressively and his business collapsed leading to suicidal car crash. You can love excessive debt only if the government supports you with some sort of financial guarnatee misplaced, or you are lucky to get away with it- just ask McClendon. The irony is that the rescue of the financial system led to the low interest rates that hurt savings of the middle and working class, and the lack of help to Main Street in the home foreclosure crisis also hurt the same people disproportionately. The Obama administration policies in this regard rescued the very same business interests such as the New York real commercial estate symbolized by Trump, that are now appealing to those hurt as president Obama worked to let the financial system recover. The intention was never to support excessively overleveraged banks or overleveraged real estate built on debt, but in reality this is what happened. A nation cannot run its financial affairs in this manner of overleveraging to extract high profits that an investment bank such as Lehman or Goldman Sachs does, or a real estate company such as Trump's does- if regulators let them do this. Normally after the financial crisis of such dimensions that it shook the world economy in 2008-2009 leading to fears of a collapse as happened in the 1930's, the same faces would not still be there. But this is a strange period or a transition period where things are being sorted out, and the same faces Blankfein at Goldman Sachs and Trump in New York commercial real estate are with us.  And though the bashing of Goldman Sachs connection to Clinton is evident in the campaigns of Trump and Sanders, the bashing of Trump real estate and finance companies with its overleveraging and bankruptcies is evident in the campaign of Clinton against one posing as a representative of the working class. John Paulson who benefitted by shorting mortgage securities that caused the financial crisis of 2008 is on Trump's top economic advisory team, including the hedge funds and financial interests on Wall Street that Trump is saying support Clinton. No one, not the NYT or WSJ, can answer this, its just the paradox of today's situation. Hillary Clinton can say she has learned her lesson, with her Methodist upbringing and her own supporters such as Robert Reich and others, and break with the past especially as it in no way contributes to her success as president, not one bit. In fact rebuilding the middle class and infrastructure require entirely different connections and views on life, a different imagination.  Trump has billions of dollars and a real estate business that is so complex that even the NYT and property information firms can only say that in the end it is shrouded in mystery. Companies owned by Trump says the NYT from this inquiry have debt of $650 million. Other Trump business activities through 3 passive partnerships owe an additional $2 billion. It is a lot easier for Hillary Clinton to put the speech fees behind her as they have little to do with what she is as a Methodist and a proponent of improving women's lives, than it is for Donald Trump- for whom his business is everything that he is including his art of the deal- to reject who he is. ...

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Trump wins 32% of the vote in the South Carolina primary, to 22% for Cruz, 22% for Rubio, with Bush, Kasich and Carson winning over 7% each. Jeb Bush ended his campaign after the disastrous result in South Carolina. Trump showed support among independents and evangelical Christians. Undecided voters at the last minute voted for Rubio and Cruz.

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This NYT editorial describes the use of Mr. Manafort telling the Republican National Committee that Trump was only "playing a part," as simply a Pygmalion project like that of Mr. Higgins. It says on Mr. Trump's comments about Mexicans and Muslims- Mr. Trump describes as toned down now, but something he has not denied. This makes him unfit for the presidency, says NYT.