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Rank: 4 (Previous Rank: 3)
Budget gap (as a % of the total budget): 21.50%
Total gap: $5.5 billion
Gap before budget was approved: $3.4 billion
Additional midyear gap: $2.1 billion
Florida's housing slump is one of the worst in the nation and only appears to be getting worse. The $66 billion Florida budget for the coming year is about $6 billion less than the one approved the previous year. It includes a $332 million reduction in public school spending and cuts to state hospitals, nursing homes, and various social programs. The Florida legislature next month will convene to decide how to plug the midyear gap.