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You already owe $32,000 to the federal government - every American does. If you're an average Philadelphian, it would take almost the entirety of your income to pay off your share of the national debt before taxes. Philadelphia's share of the federal debt is more than $48 billion, which is before baby boomers start to retire and Congress writes a $700 billion check to attempt to fix Wall Street.
Over the next 25 to 35 years, spending on Medicare, Medicaid and Social Security is projected to absorb every other discretionary dollar the government spends, which means no more federal funding of city programs and no more mortgage tax breaks for Philadelphians. If we don't address this problem, it is undeniable that the United States will be unable to provide entitlements to all who are eligible.
We must transcend the short-sightedness that is ingrained in our culture and insist that our government promote bipartisanship, collaboration and cuts in the growth of spending. The Concord Coalition, a nonpartisan organization that advocates responsible fiscal policy, will present the "Fiscal Wake-Up Tour" on Oct. 14 at the University of Pennsylvania at 6 p.m. in Houston Hall, 3417 Spruce St.
Philadelphians are encouraged to attend to learn more and to take the first step in solving the fiscal problems of the U.S. government.
Samantha Braun
Keara Stewart
Philadelphia
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