About Marc Joffe
Marc Joffe is the Director of Policy Research at the California Policy Center. In 2011, Joffe founded Public Sector Credit Solutions to educate policymakers, investors and citizens about government credit risk. His research has been published by the California State Treasurer’s Office, the Mercatus Center at George Mason University, the Reason Foundation, the Haas Institute for a Fair and Inclusive Society at UC Berkeley and the Macdonald-Laurier Institute among others. He is also a regular contributor to The Fiscal Times. Prior to starting PSCS, Marc was a Senior Director at Moody’s Analytics. He has an MBA from New York University and an MPA from San Francisco State University.
Entries by Marc Joffe
They may not have won a Nobel Prize, but California taxpayers and students are awarding ten retired University of California professors an attractive consolation prize: pension benefits amounting to more than $300,000 each per year. Topping the list of UC pension beneficiaries is Fawzy I. Fawzy, M.D. a Professor of Psychiatry and Biobehavioral Sciences at UCLA. He received over $354,000 in 2014, an amount that will continue to grow each year with cost of living increases. Recently, Dr. Fawzy generously helped his junior colleagues by explaining their compensation and pension benefits in a lecture uploaded to YouTube. His knowledge of the ins and outs of the UC payroll and retirement systems is truly impressive.
On October 20, the West Contra Costa County Healthcare District (WCCHD) filed for Chapter 9 municipal bankruptcy – its second such bankruptcy filing in ten years. In 2015, the district closed its one hospital – Doctors Medical Center in San Pablo – which had been hemorrhaging money for many years. Since WCCHD is insolvent and […]
Along with the grandeur of Yosemite and the beauty of the California coast, there’s our state’s epic rush hours. But sales taxes on the Nov. 8 ballot, like Contra Costa’s Measure X, aren’t the way to solve them. Measure X would add 0.5% to local sales tax rates to fund a variety of transportation projects […]
This fall, voters in San Francisco, Alameda and Contra Costa counties will consider a $3.5 billion BART bond measure. Proponents argue that the measure is required to ensure the system’s safety and reliability. Critics are concerned that bond proceeds will be used to support excessive employee salaries and benefits. BART management denies that claim. In […]
Given declining enrollment, Orange Unified School District’s $288 million bond measure may fund more school upgrades than students need. There is also a risk that the taxpayer cost of debt service for the bond issue will exceed the district’s forecast rate of $29 per $100,000 of assessed valuation. According to statistics from Ed Data, enrollment […]
If Orange Unified voters approve Measure S this November, newly authorized bonds will be added to an already large district debt. A California Policy Center review of OUSD financial reports finds that the district owed $120 million to bond investors as of June 30, 2016. The largest portion of OUSD’s bond obligations takes the form […]
Orange County voters are being asked to approve over $2.4 billion in new school bonds. The largest bond: Capistrano Unified School District (CUSD)’s $889-million Measure M. The new CUSD bond would be serviced by property owners in most of the school district, but not quite all of it. One community, Rancho Mission Viejo, won’t be […]
Scholars from the University of California at Berkeley have played a pivotal role in making income inequality a major political issue. But while they decry the inequities of the American capitalist system, Berkeley professors are near the top of a very lopsided income distribution prevailing at the nation’s leading public university.
Californians may be accustomed to living with the specter of a public pension crisis. But the federal government’s problem with its retirement system – including Social Security – is far worse, and yet none of the three remaining major-party candidates for president has a plan to do anything about it. The California Policy Center generally […]
Taxpayers in Stanton, a quiet suburb of Orange County with only 38,000 residents, will pay millions for a pricey bond deal approved in an obscure vote of a little-known city agency five years ago. Rather than risk voter rejection over the deal, Stanton city council members David Shawver, Alexander Ethans and Brian Donohue – acting in […]