August 14, 2008
Florida's dwindling state budget could fall about $1 billion deeper into deficit due to a combination of record-high gas prices, the crashing housing market and record job loss in the state.
State economists plan to meet Friday to determine just how big the hole will be, but the previous quarter's lower-than-expected tax collections indicate they'll be facing a deficit benchmark of as much as $1.2 billion.
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