Former Budget Director Calls Budget 'Train Wreck'
Jefferson City, MO – A former Missouri state budget director says the state's budget will resemble a 'train wreck' even if the economy improves.
Jim Moody's report says the budget has structural problems, and that there probably won't be enough money for all state services next July, when the next budget starts.
He adds the state has a low tax base and the state misinterpreted economic growth in the 1990s. Moody also questioned the elimination in 1997 of a 3% sales tax on food.
Moody was former governor John Ashcroft's budget director.