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91 <br /> <br /> A RESOLUTION ON DEFICIT REDUCTION. <br /> <br /> WHEREAS, eliminating the federal budget deficit is quickly <br />becoming the single most important issue facing the nation's <br />cities today; and <br /> <br /> WHEREAS, failure to take action to eliminate the federal <br />deficit will create financial instability and greater <br />dependence upon foreign lenders, crowd out critical programs <br />that invest in the future of cities, and leave a legacy of <br />growing debt for our children and grandchildren; and <br /> <br /> WHEREAS, any effort to reduce the federal deficit will <br />have significant impacts on state and local governments; and <br /> <br /> WHEREAS, at the current rate, spending on federal <br />entitlement programs and interest on the national debt will <br />consume all federal revenues early in the next century; and <br /> <br /> WHEREAS, controlling the growth in federal entitlement <br />spending, along with all other federal spending, is critical to <br />future economic growth of cities and the nation; and <br /> <br /> WHEREAS, non-means-tested entitlement programs are <br />projected to be the most significant contributor to the <br />possible bankruptcy of this country; and <br /> <br /> WHEREAS, severe reductions in federal assistance without <br />addressing underlying needs and providing federal regulatory <br />flexibility would have a significant impact on state and local <br />resources; and <br /> <br /> WHEREAS, federal cuts in Medicaid that do not address <br />reducing the health care needs of indigent families would <br />simply shift burdens, responsibilities, and liabilities to <br />state and local governments; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the National League of <br />Cities, the Virginia Municipal League and local elected <br />leaders, working together with state elected leaders, should <br />lead a grass roots national campaign to create and stimulate a <br />national dialogue on eliminating the federal deficit and <br />controlling entitlement spending; and <br /> <br /> BE IT FURTHER RESOLVED, that in acting any laws to <br />eliminate the federal deficit, the Council of the City of <br />Portsmouth, Virginia, believes that all entitlement programs, <br />including tax expenditures, revenues, and all discretionary <br />spending, must be on the table; and <br /> <br /> <br />