Economist says Missouri could face major budget problems
Jefferson City, MO – A former chief state economist says Missouri could face major budget shortfalls in the next two fiscal years if state revenue trends continue.
Tom Kruckemeyer now works for the Missouri Budget Project. He said his estimates are based on this year's consensus revenue estimate.
The deficits occur when factors such as tax cuts, inflation and spending to maintain the states current services are taken into consideration.
He said the revenue base has eroded so much the state is going to have trouble maintaining its budget posture past 2009.