  We propose an autonomous quantum error correction scheme using squeezed cat
(SC) code against the dominant error source, excitation loss, in
continuous-variable systems. Through reservoir engineering, we show that a
structured dissipation can stabilize a two-component SC while autonomously
correcting the errors. The implementation of such dissipation only requires
low-order nonlinear couplings among three bosonic modes or between a bosonic
mode and a qutrit. While our proposed scheme is device independent, it is
readily implementable with current experimental platforms such as
superconducting circuits and trapped-ion systems. Compared to the stabilized
cat, the stabilized SC has a much lower dominant error rate and a significantly
enhanced noise bias. Furthermore, the bias-preserving operations for the SC
have much lower error rates. In combination, the stabilized SC leads to
substantially better logical performance when concatenating with an outer
discrete-variable code. The surface-SC scheme achieves more than one order of
magnitude increase in the threshold ratio between the loss rate $\kappa_1$ and
the engineered dissipation rate $\kappa_2$. Under a practical noise ratio
$\kappa_1/\kappa_2 = 10^{-3}$, the repetition-SC scheme can reach a $10^{-15}$
logical error rate even with a small mean excitation number of 4, which already
suffices for practically useful quantum algorithms.
