Nixon faces large budget deficit
There is an interesting article up today from the St. Louis Post-Dispatch about the budget shortfall that MO governor-elect Jay Nixon will face when he takes office.
Simply put, because of the economic downfall that is occuring across the country, Nixon could face up to a $340 million budget deficit when he takes office. The state revenue may fall amost 8 percent — more than $600 million — below initial projections.
Budget deficits such as Missouri's are also occuring throughout the country. Minnesota is another state facing a budget shortfall, except theirs may be as high as $4 billion.