Down And Out In Texas, California...

The recession may be over, but in state capitals the agony goes on. Just look at the recent news from around the country: Unable to close a staggering $9 billion deficit, California is preparing to pay vendors in IOU's, not cash. Texas is scrambling to close a projected $4 billion-plus shortfall in the next budget cycle. Florida lawmakers and Governor Lawton Chiles are at war over his plan to raise $1.3 billion in new taxes.

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