In Xcode, all the target's build settings inherit from the project's build settings. The project's build settings inherit from "iOS Default". This inheritance is shown below with Levels selected rather than Combined.
For those who were not aware, the bold entries under the project's settings indicates an override. The override can be "cleared" by highlighting the setting and then pressing COMMAND-BACKSPACE.

It gets really old constantly changing those values for every non-trivial project I create. Especially items like Other C Flags, where I have to add -Wall -Wextra -Wconversion -wstrict-overflow. Preprocessor Macros is another which must always be fixed to include Posix's NDEBUG=1. I definitely consider lack of NDEBUG=1 in Release builds a bug since Posix requires NDEBUG to remove abort() caused by assert(); and Apple's UI standards don't allow an abort(). (DEBUG=1 is similar for Debug builds since so many use it despite the fact Posix only standardized NDEBUG).
From @Petesh below, I know I can use a Configuration for each project (perhaps create it once, and re-use it). But that means I am applying "proper" or "correct" setting to mask defective settings in the "IOS Default" template. My intention is to fix the problem at the source of the problem once and for all.
How does one edit the default setting template? Is there a physical file on the file system that represents "iOS Default"? If so, can it be edited (is it XML)?
UPDATE: Based on @Peresh's answer (there is no disk file to permanently fix the problem): RADAR 12941954. It will probably sit in Apple's bug reporting system unconfirmed, unanswered, and unfixed for years, just like the rest of the bugs folks like me and others take the time to report.