Excerpt: Other large states face similar problems, a clear sign that they are still not out of the woods several years after the housing bubble burst, the recession began and many states made big spending cuts. Florida, California, New York and New Jersey have all seen their tax collections come in below expectations in recent months as the nation has continued to struggle with high joblessness, a weak housing market, a sliding stock market and worries about the European debt crisis. The states are collecting more in taxes than last year, but not as much as they did before the recession began, and not as much as they expected when they drew up their budgets last spring. [Wmphasis added.]
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