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September 16, 2011     Post-Gazette
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September 16, 2011

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j- THE ITALIAN-AMERICAN VOICE OF MASSACHUSETTS (Formerly LA GAZZETTA del MASSACHUSETTS) VOL. 115 - NO. 37 BOSTON, MASSACHUSETTS, SEPTEMBER 16, 2011 $.30 A COPY UM, MR. PRESIDENT, Those Ideas Failed Already (But Here Are Some Better Ones) by Herman Cain The U.S. economy is on life support. The stock market is on a roller coaster. The unemployment situation has gotten worse. The Middle East is more volatile than ever. Congress has one of the lowest approval ratings in history, while President Obama's approval rating has hit a new low. And now, after his big *jobs speech" before a joint ses- sion of Congress last week, the president wants to spend another nearly $450 billion to turn things around, since the first stimulus of nearly $I trillion did not work. The speech contained the same kind of ideas he proposed earlier, packaged in some different rhetoric except for two new additions. First, he proposed to cut the payroll tax in half for both employees and employers, bu't he did not say for how long. Granted, it's half of what I have been proposing for months. But without major companion cuts in the top corporate and personal income tax rates, and the suspension of taxes on repa- triated foreign profits, it's just another crumb from the want-to-be king's table. Businesses are not going to rush out and start hiring people, just as they did not when the president passed the 2% payroll tax crumb in the first stimulus package. And businesses still do not know what the tax structure will be in 2013. That's not fuel for the economic en- gine, which is the business sector. It's just a few dollars in the pockets of workers and more uncertainty. Second, he wants to create an "infrastructure bank" for roads, bridges and highways with $10 billion of taxpayer money as seed money. Translation: Highway rob- bery! This is how Fannie Mae and Freddie Mac got started, and they eventually imploded at taxphyer ex- pense and caused the big- gest financial meltdown in this country since the Great Depression. (Continued on Page 15) SS Cosmas 6 Damian Society Celebrates 85 Festival Members of the SS Cosmas & Damian Society. Additional photos on page 8. (Photo by Rosario Scabin, Ross Photography) SAINT ROSALIE SOCIETY PROCESSION [ U.S. Rep. Mike Capuano Speaks Out When Michael Capuano first ran for U.S. Con- gress in Charlestown, I supported him. I thought he did a great job as Mayor of Somerville, too. However, over the past few years, he has drifted so far to the left that by January 2010 there was no way I could support him in the special U.S. Senate primary election. He has become as lib- eral as Barney Frank. A recent Q & A in the Charlestown Patriot Bridge left me wondering. In one instance, he seems to be backing both our wars in Iraq and Afghanistan, calling "the two wars ... moral and just." Then, in the blink of an eye, he says that nothing "has changed in Iraq. We're way overdue to get out of there. It will end up not being worth the effort. Afghanistan -- it isn't worth it at this point for me." Sounds like doublespeak to me. As for the economy, Capuano wants more government infusion or "otllerwise nothing is going to change, not in the near future ... We're not creating jobs." He added, "I would have cre- ated a 21 st century WPA, but I don't think I could get it through Congress." I wasn't around for the Great Depression, but it didn't fix the economy or end the Great Depression. Didn't WWll more than the WPA take America out of the Great Depression? The last thing we need in 2011 is (Continued on Page I0) Festival season in the North End comes to an end with the annual procession of Saint Rosalie. Additional photos on page 8. (Photo by Rosario Scabin, Ross Photography) THE POST-GAZETTE SATELLITE OFFICE IS NOW OPEN AT 35 BENNINGTON STREET, EAST BOSTON This office is open on Tuesdays from 10:00 AM to 3.'00 PM and Thursdays from II.'00 AM to 2.'00 PM, for the convenience of our East Boston and North Shore clients and contributors Call 617-227-8?2? for more information ]