How “artificial intelligence” (AI) will impact our future is the raging question. You have to wonder why. Federal and state governments have used AI for years and we know how well that works.
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| The Lotus Eaters |
Take our state legislature and the Public Employees’ Retirement System (PERS) for example. As you should know, PERS continues to struggle financially despite excellent investment returns. To gain a thorough overview with striking graphs, read Jackson Jambalaya's summary of the PERS financial dilemma.
Since 2001, the legislature has applied its own artificial intelligence to resolve the problem. One Jambalaya reader described that process well: “The Legislature refuses to believe the actuaries and instead does rain dances and consults witch doctors.” Those actuaries have told legislators for years that PERS cannot rely on investment earnings to resolve its shortfall. Instead, it will take significant increases in revenue via employer contributions or direct legislative infusions over time. This session, both the senate and house considered direct infusions, but, drum roll please, none were approved.
As the legislature wrapped up its budget decisions, another AI consequence became clear. Government AI projected that state revenues would continue to accelerate upwards even after major sources of revenues got cut or eliminated. Instead, the phased-in elimination of personal income taxes, plus cuts in grocery sales taxes, plus reduced business taxes are beginning to take their toll on state finances.
Both houses had hoped to dramatically increase teacher pay. One proposed a $5,000 annual increase, the other $6,000. Instead, a one-time $2,000 increase passed. Rep. Karl Oliver gave this rationale, as reported by Mississippi Today: “We have based our final decision on the teacher pay raise based on what we have available and what we could afford to give teachers.”
The Magnolia Tribune reported a $15 million allocation for childcare assistance to help parents into the workforce was dropped. “The funds were not there to continue the program,” Rep. Clay Deweese said. And Mississippi Today reported a $390 million allocation needed to sustain Medicaid was cut nearly in half.
Meanwhile at the federal level, AI told President Trump he could quickly zap Iran, spur a popular overthrow of its theocratic dynasty, and still improve affordability at home.
Right.
They must have cranked up the same AI process that told President Bush to invade Iraq in 2003. That unfunded war began our quick march from a balanced budget and under $6.8 trillion in national debt to a $1.9 trillion dollar budget deficit and $39.1 trillion in national debt today. The Iran war promises to further accelerate budget deficits and increase debt.
Artificial intelligence is often just that, whether from humans or machines.
“Blessed are those who find wisdom, those who gain understanding” – Proverbs 3:13.
Crawford is an author and syndicated columnist from North Jackson.
21 comments:
Defined benefit pensions aren’t sustainable. It is why they are disapearing everywhere on the planet. They are the primary reason for the stagnation of the Japanese economy. Japanese companies avoid paying pensions by barely hiring. Most workers are temps. Getting a full time job at a Japanese company means you are likely an executive in the top 10% of graduates and likely blood relative to an infuential politician whose favor the company needs to survive.
This guy never fails let’s the facts get in the way of his opinions.
Crawford reports the facts. MAGA crowd has its head in the sand
Pensions existed in some large corporations before 401(k)s were invented. Some large corporations have both, still, especially those with some of their locations being union. And they exist in corporate environments for both salaried, exempt employees as well as hourly, non-exempt - with all employees drawing both at retirement. And you can add to that a quarterly return on investment profit sharing plan.
Are they a majority? Of course not. But, let's stop with the pretending that they don't exist. And they're not going away.
Are the people portrayed in the image enjoying a cannabis high or are they simply sexually satiated. Ima vote for both. Others who float on lotus want to know.
That’s clearly a DMT/Salvia trip, fellow psychonaut.
I have been receiving a generous defined benefit pension for 34 years and it is doing fine, thank you very much.
Is Bill Crawford retarded? Seriously. His columns are childish rants and are not linear and do not make any sense based of facts.
I like that his nonsense is posted on this site for all to see. But certainly, if this is all it takes to be “published” in Mississippi, we have bigger problems.
@11:31
You are correct that few Mississippians have the cognitive abilities to process nuanced historical information and non-linear narratives.
@11:31, the fact that people don’t share your opinions does not make them “retarded” (your word).
I almost believe you, and would have believed you if he had pointed out decisions made by democrats. But, Crawford, the republican hater, didn't do that. Every article he writes is a slam against republicans.
Crawford is a RINO.
But, but but Mr. Crawford, you say the ONLY way to fix PERS is to either increase what the state puts in on behalf of the employees (employer contribution) or to make a cash infusion.
Amazing, how as a beneficiary of the system you fail to recognize the other option(s) available: Maybe change the system? Get rid of the high four theory and do like other retirement plans and make benefits based on an average of one's earnings, or at least a reasonable past number of years? Get rid of the automatic COLA? Get rid of the compounding of the guaranteed COLA? Or of course, there could be an increase in the employee contribution, not just the employer, but who would ever think of that?
Or maybe actually do what the private sector has done - actually DID, several years, maybe decades ago. Get away from this defined benefits plan altogether and go to a defined contribution. Hell, even the federal government did that, almost a half-century ago.
Democrats support Skynet, they beg for their own demise and support rights for all terminator variants.
What is it that Mr. Crawford says that causes you to believe he is a RINO?
China is turning the Gobi desert into a rainforest and building more than 10 nuclear power plants a year and we are arguing over pronouns, voter ID, deporting illegals, and “learing” centers for Somalis.
Plus now add humiliation for our Navy in the Straight of Hormuz.
Currently, China has significant upheaval in the upper echelons of their military, with many generals being demoted, or simply not seen in a while. It seems the Chairman has been crushing an uprising, and consolidating power. The problems, that you have conjured in your imagination, are not being entertained in China.
@6:25
Try getting your news from someone besides Mark Levin.
Government corruption gets punished in China. Unlike here where Kristi Noem was allowed to steal millions of dollars and just walk away. And Trump never gets investigated for emoluments.
The current government, federal and state, is run by dysfunctional intelligence.
In discussing PERS and the legislatures 'disfunction', he somehow (conveniently) started at the wrong spot - 2001. The current problem with PERS results from that same legislature a couple of years earliler enjoying the Clinton dot-com economic boom (yes, that one that two years later turned into the dot-com.bust) created the current guaranteed 3% compounded COLA, in order to hide the personal perks they inserted for their part-time legislative retirement system.
Arguably, PERS might have some problems today even if those fools back then while feathering their nest (especially the ones that went on and took an appointment a couple of years later to get a high high-four in some cases to quardruple their benefits) hadn't screwed the pooch with their generous gifts but it sure would be in solvable condition.
But with the legislature refusing to get rid of the self-serving board and putting professionals in to run the program, I'd just as soon see it go bankrupt rather than take Crawford's easy way out of dumping jhundreds of millions of state 'cash' into the pot.
@ 4:56 - Please explain your comment re humiliation of our navy in the Hormuz Straight...or did you intend to continue with that later?
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