>> i think both the men in our story, steve wesley, phil angelites, thought we did the right thing.hink the clock was ticking. people were worried about the state running out of money. and again, voters have had a tendency to pass bonds thinking -- not really seeing the impact of all the borrowing that cost. and i don't think that that was emphasized in this campaign. the governor ran around with a great big credit card. a big photo op. but there wasn't a lot of talk about, this is a ten-year payback plan. >> under jerry brown we have this rainy day fund. we can't do what we did pack then, the proposition prevents that. are we now going to avoid this kind of thing in the future with the rainy day fund, higher tax rates? >> i think it helps stave this off. i mean, you're going to have money that's going to be set aside. but the long-term structure of how we spend money, the tax revenues, the volatility of relying on income taxes, that is still there in california. and we've got to hope the economy keeps going well. >> this is the end of an ugly chapter and i think everybody should ce