I always thought it was about California getting wiped out by an earthquake:

"Well, the scientists say
It'll all wash away
But we don't believe in them
Anymore..."

"This old earthquake
Is gonna leave me in the poorhouse..."

As for the 31st floor and all that I think he was sayin', Hey, let us work... No fears... Just get over it... We need the work...

That's my take...

B~