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September 23, 2011     Post-Gazette
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September 23, 2011

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.... . . ..; . Page 4 POST-GAZETTE, SEPTEMBER 23, 2011 with Ben Doherty EVERYONE BLAMES THE PRESIDENT Half of Americans say someone new should be president. 58% of indepen- dents give President Obama bad grades on the job. As President Obama tries to sell his latest job package, half of Americans believe that the best solution would be an- other president according to a new poll. By 50%-44% re- spondents choose someone new deserves a chance to be elected. Among indepen- dents the reading was 53%- 38%. It's a natural result of anger over the economy which produced no net new jobs in August. Now three- years into his term, Presi- dent Obama can't blame larger deficits on the prior administration. Over a quar- ter of households have at least one person looking for full-time employment. This translates to over 30 million Americans. President Obama made the decision to cham- pion a 8447 billion job bill two years after his decision to win a $819 billion stimulus bill where unemployment would peak at 8% in 2009 and drop to 6.5% now. In- stead the jobless rate is 9.1%. The poll shows that he does not have the experi- ence to be an effective presi- dent. An IBD/TIPP rose from a low of 45.1% in August to 46.5% in September. A read- ing of American adults below 50 signals disapproval. The poll of 829 American adults was conducted September 6- 11 with an error of +/- 3.5 percentage points. Real wages are falling sharply, pinching American buying power and raising the risk for a fragile economy and the president's re-election hopes. With more than four unemployed workers vying for every job opening, pres- sure on wages has been fewer as a result. 7% of eco- nomic activity has sput- tered, it rose at an anemic .4% in the second quarter. As a result, consumer spend- ing 70% of economic activ- ity has weakened and GDP grew at a 1% annual rate after the first quarter .4% gain. Payrolls remain $686 million below their January 2007 peak when the reces- sion began. A new stimulus will not work to pull the economy out of a recession. Lawmakers are expected to pass bills to approve hiring incentives and boost infra- structure spending to create jobs and pull the economy back from the brink of reces- sion. They are expected to go along with extended payroll tax cuts and propose tax cuts, renew transportation fund- ing. Politically a stimulus is unlikely due to Congress' negative views of the 2009's trillion dollar package, ana- lysts say. Politically, a stimu- lus will be poisonous, so if President Obama tries to promote more stimulus, it will go nowhere. The Fed has already slashed interest rates to near zero and bought more than 82 trillion of U.S. Treasury Bonds. The most likely scenario is that the economy will continue to limp along. It's not a recession, it just feels like one. Industrial activity keeps rising, but other reports out show real wage declines are accelerat- ing and that job woes con- tinue. Industrial output rose .2% in August as manufac- turing activity expanded and broad auto led gain. The Fed- eral Reserve said, "It's still consistent with the idea that we are in a period of subpar growth," said Scott Brown, chief economist at Raymond James. Manufacturing ac- tivity in New York and the mid-Atlantic region con- tracted more than expected in September. As a result, 7% of economic activity has sputtered, but while both were negative last month, the national ISM reading remained positive while actual output rose. Core costs rose 1.95% last month versus a year ago. Policy- makers who meet on Sep- tember 2-2 1 have been leaning in the direction of doing more but Thursday's CPI might give them some pause. "With prices rising across the board, workers are seeing their paychecks shrink and that cannot help the recovery," said Joel Naroff, President of Naroff Economic Advisors. It's time to call your financial advisor or call me at 617-337-5712. @ Law Offices of David Grossack, P.C. of the Year" 1999 Massachusetts Lawyers Weekly Personal Injury Law Automobile Accidents Wrongful Death Claims Assault Due to Poor Security Victims of Drunk Drivers/Alcohol-Related Injuries Divorce Landlord-Tenant Disputes Civil Litigation of All Kinds Business Problems David Grossack is nationally prominent for his innovative approaches to client problems and for numerous cases which are now in the law books. See Nollet v. Trial Court 83 E Sup. 2d 204, United States v. The Building lnqoector of America 894 E Supp. 507, and Sinai v. New England Telephone 6 BNA IER CAS 56. For more information, visit or call now! by Sal Giarratani The Legend of Tony DeMarco The Flame & Fury of Fleet Street "Nardo: Memoirs of a Boxing Champion tells the story of the great Tony DeMarco and not only his life in the ring but his life in general." -- Jake LaMotta, I started reading Tony DeMarco's memoirs, Nardo: Memoirs of a Boxing Champion and found the autobiography simply terrific reading. As Jake, better known as "The Raging Bull," says, this book isn't just about Tony's career inside the ring; it is also a book about the neighborhood he came from and the values he inherited from his par- ents growing up in the Sa- cred Heart parish in the North End of Boston. I lived on Salutation Street and attended the first grade at St. Anthony's School around the corner from where Tony lived. The undis- puted welterweight cham- pion in 1955 was born Anthony Liotta but took "Tony DeMarco" when he started his boxing career as a young, under-aged kid from Fleet Street. This new book, writ- ten by Tony himself with Ellen Zappala, is a real "Rocky" story about Tony's humble beginnings in the North End, his rise to the top of the boxing world, his time in Arizona as a nightclub owner and how he handled the tragedies in his personal life, such as the loss of his son in a bicycle accident. The photos in the book are great. He name drops throughout the book. It is more like lis- tening to DeMarco talk rather than reading his printed words. I vividly remember the re- action in the North End when Tony captured the champion- ship belt by beating the favor- ite, Johnny Saxon. He was a conquering hero. My father took my family down to his apartment building on Fleet Street. He yelled up and Tony came to the window. Hail the conquering hero. Everyone walked down Fleet Street in the few days that followed his Boston Garden victory. Tony grew up in the same parish and neighborhood as my father's family. My grand- mother had been good friends former Middleweight Champion with his mother. My father remembered Tony as a kid. Tony knew all my uncles and aunts. It was a close knit neighborhood where every- one seemed on a first name basis. He took the champion- ship one month before my seventh birthday, and I still remember that time so well. The book is full of names and places, some of which have vanished into history. The old Boston Garden is gone. The New Garden Gym is gone. The Ironhorse is gone. The Lanky is gone. However, when I walk down Causeway Street, I can still see all those places inside my mind because the memo- ries remain. The New Gar- den Gym looked like a scene out of "Rocky." I took boxing lessons there on Friend Street upstairs in that old ring. My boxing coach was Bill Duffy, an ex-Navy welter- weight himself. One of my father's oldest friends was Tony Scucco. There's a guy who fought both Joe Lewis and Primo Carnera in non- title bouts. Even in old age, he was still looking like a boxer. In his prime, he was a great heavyweight inside the ring and no one to mess with. Other names I remem- ber my father mentioning were Johnny Shkor who also met up with Joe Lewis in the ring. April 1955 was a great time in the North End when "the Flame and Fury" brought the championship belt home to Fleet Street. From time to time, I still bump into Tony and still remember back to those glory days when he was king of the hill. If you like boxing as a sport, this is your book; if you like a story about a real neigh- borhood hero, this is your book; and if you just want to feel good about that time and place in history, this is really your book. There will never be an- other Tony DeMarco. f RISTORANTE & BAR Traditional Italian Cuisine Donato Frattaroli 415 Hanover Street, Boston, MA 02113 617.367.2353 -- Open for Lunch and Dinner Daily -- Private dining rooms for any occasion donato@luciaboston,com www, /