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May 6, 2011     Post-Gazette
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May 6, 2011

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, ~ ~ ~ -~ ~ :~ ~ ~ ~: ~ ~ ~' ~ ~ ~.~r~i~~ ':~;EI~ ~DC [~D ~.0~ THE ITALIAN-AMERICAN VOICE OF MASSACHUSETTS (Formerly LA GAZZETTA del MASSACHUSETTS) VOL. 115 - NO. 18 BOSTON, MASSACHUSETTS, MAY 6, 2011 $.30 A COPY J \ appy Mother's "Why can one Mother take care of ten Children, but ten Children cannot take care of one Mother?" U.S. Warned on Debt Load .The above was the headline in the Wall Street Journal on Tuesday, April. 19. The blunt warning handed down the previous day from the Standard & Poor's credit-rating firm about the U.S. government's mounting debt, which pushed stock market prices down and the political heat up. S&P didn't lower the AAA high bond rating for U.S. Treasury securities, but changed its outlook on these securities from "stable" to "negative." This news is not very positive, is it? According to a recent Wall Street Journal report, "A downgrade would push up interest rates on Treasuries, which are a benchmark for other consumer and business borrowing rates, raising the cost of credit throughout the economy." The U.S. debt now stand at $14.219 trillion just shy of the $14.294 trillion cap and is expected to balloon. In part, due to rising costs of health care, retirement, other entitlement programs and the interest on existing debt. If no action is taken on raising the debt ceiling the government could default on its debt by July 8. Says Bill Gross, founder of Pacific Inve~anent Management Company, the S&P action "is a warning shot at least to investors that should be loud and clear in Washington." City Square Meets Tipping Point The other day while driving into Charlestown, I passed by the City Square Shell station and noticed the-price of gas. Eighty-seven octane was going for 83.99 point 9. The highest I've seen to date this time around. The-gas station was empty. What a surprise. It seemed like only weeks ago, I purchased some gas at King Express at the Dedham-West Roxbury line for only 82.97 per gallon. Right now prices are all over the place from 83.71 to that incredible S3.99. The last time this was happen- ing, the highest the price got was $4.11 back in July 2008. (Continued on Page i0) :ials Honor calVictims 11 On Monday May 2, 2011 Mayor Menino joined the Massachusetts 9/I 1 Fund to honor the local victims of hhe 9/11 tragedy at the Garden of Remembrance, a memo- rial in the Boston Public Garden that is dedicated the victims of September 11, 2001. The Mayor, Governor Deval Patrick and other offi- cials and Fund board mem- bers observed a moment of silence and placed 206 white roses on the memorial, one for each name remembered on the memorial. The event followed the news of the death of Osama bin Laden. (Photos by Rosario Scabin, Ross Photography) 3rvans Return to 3oston ublic Gardens The swans (Romeo & JuIiette] have returned to the Boston Pub/|c (]arden Lagoon on Tuesday, May 3, 2011. Mayor Menino along with City Councilor Michael Ross and the public paraded the swans back to their home for the summer. (Photo by Rosario Scabin, Ross Photography) .... , ,. v i! THE POST-GAZEI"rE SATELLITE OFFICE iS NOW OPEN AT 35 BENNINGTON STREET, EA$"r BOa'TON This office is open on Tuesdays from 10:00 AM to 3.'00 PM and Thursdays from I1:00 AM to 2. X) PM, for the convenience of our East Boston and North Shore clients and contributors Call 6! 7-227-8929 for more information