UH, OH. The latest on Air America Radio is the worst news yet. According to this front-page story in today's Wall Street Journal, the liberal network went on the air with just $6 million - not the $30 million it had claimed - and it's now $2 million in debt. The story further reports that the network is downscaling its ambitions and putting new financing in place, so no need to give up just yet. But don't look for a Boston affiliate any time soon. To say the least. (Via Romenesko.)