A top financial advisor to incoming governor Jay Nixon says the state’s economy has slipped so much that the state is looking at being 340-million dollars short of being able to pay its bills by the end of the fiscal year next June 30th..
Former Senator Wayne Goode, who headed appropriations committees in both the House and the Senate during his 42 year career in the legislature, says trends indicate state income will fall more than 600-million dollars short of the amount the legislature expected the state to receive when it approved a budget last May.
Goode says Nixon will be making some announcements of possible adjustments in state spending on programs and services within the next few days.
Nixon will take office January 12th.