joined by john chung, state controller for california. thank you, john. have -- let's start with john. then we'll get to madelyn. john, how bad of an impact is this having on the state of california? >> well, it has a huge psychological impact on the california consumer. there's the concerns not only about the gas prices but what is going to happen in the immediate future, how does it impact jobs, what does it do to farm production, what does it do to manufacturing production, what does it do to disposable income. we understand when you have a median income in california here between $52,000 to $58,000, depending if you are an individual or multi-family -- multi-person family household, it puts strains on one's budget. you. >> lots of strain going on in your state. moody's got those 30 california cities for possible downgrade on review. what can be done? this is like a bit of a different nuance from what needs to be done but what realistically can be done right now? >> we need to make sure that we have sound, strong practices in place. i've been advocatin