In 1985, 14% of all Americans were poor. That means 33.1 million people. Since 1977, poverty has increased by 2.4%. This means that there are 8 billion more poor people now than in 1977; 1.3 million of those people live in Los Angeles county.
This alarming increase is occurring during an "economic recovery" that is itself showing increasing signs of faltering.
In 1986, domestic spending by the government will decrease by $54 billion. Defense expenditures are increasing by $48 billion.
While some middle- and lower-income people are finding themselves slipping lower and lower on the economic ladder, the top 12 defense contractors made $27.7 billion in domestic profits in 1985.
We must gain control of our domestic economy.
Initiative Ordinance V begins the process of planning the transfer of highly inflationary defense investments back into the development of our local economy--moving dollars into housing, education and nutrition for our people.
People remain the most important investment a community has. We can begin to offer real security for the families of our community by supporting Ordinance V.