Episode notes
Here's your latest episode from the The Advocates for Self Government CiVL News Roundup produced by CiVL.com.
California faces a growing public pension crisis as lawmakers propose expanding benefits despite a $200 billion unfunded debt. Constitutional attorney Marc Friedman warns that current AI regulation proposals risk regulatory capture, benefiting large corporations over the public.
• California's public pension debt exceeds $200 billion, with lawmakers proposing measures to expand benefits.
• Assembly Bill 1383 would roll back Public Employees' Pension Reform Act protections, lowering the retirement age and allowing increased benefits.
• CalPERS estimates AB 1383 would add at least $9 billion in costs over 20 years, with the Reason Foundation projecting over $14 billion in 30 years.
• Marc Friedman argues AI regulation, as currently conceived, risks entrenching large corporations through regulatory capture.
• Friedman notes AI is already embedded in critical systems like medical diagnostics and financial underwriting.
• He contends that existing laws, such as fraud and consumer protection statutes, can address AI harms without new regulations.
• Economist Peter Schiff's 2014 predictions from "The Real Crash" are revisited, highlighting his accurate forecast of the 2008 housing collapse.
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