Balancing the Budget

At a time when many of our neighboring states are deep in debt and raising taxes, Gov. Nixon has balanced the state budget year after year without raising taxes.  Instead of balancing the budget on the backs of the taxpayer, Gov. Nixon made government smarter and more efficient – cutting more than $1.5 billion in spending.  The Governor consolidated government services, downsized the bureaucracy, used technology more efficiently, and made the tough decisions needed to keep our fiscal house in order.

Gov. Nixon’s sound fiscal management helped the state earn a Triple-A bond rating – the top rating – making Missouri one of the only states in the country to earn the highest rating from all three rating agencies.  The Triple-A bond rating is a key indicator to the business community and saves the taxpayers millions a year in interest.  Fitch Ratings recently cited Missouri’s “conservative financial operations,” while Moody’s Investor Service lauded the state’s “history of excellent financial performance, strong fiscal management controls, and… moderate debt burden.”  Even Standard & Poor’s, which downgraded the United States’ credit rating for the first time in 2011, pointed to Missouri’s “good financial management” in reaffirming its Triple-A score.

This strong fiscal leadership has allowed Missouri to make investments that are helping turn the economy around.

What Others Are Saying

“As Missouri governor, Nixon has become the cutter-in-chief.” – Associated Press, 5/24/10

“[Nixon] deserves high praise for his overall budget-balancing job.” – Henry J. Waters, Columbia Daily Tribune, 3/15/10

“Unlike so many other states, the Show Me State is finding ways to keep state spending within anticipated revenue. That’s good news.” — Southeast Missourian Editorial, 6/27/10

Streamlining government and cutting bureaucracy “is a housekeeping chore that has been needed for some time now, and we applaud Nixon for tackling the job.” — Joplin Globe, 1/23/10

“Compared to states that have raised taxes and sunk into deficit spending, Missourians have at least a few reasons to smile.” – Jack Miles, Warrensburg Daily Star Journal, 1/26/11

“In our view, the ‘AAA’ GO rating on Missouri is warranted given the state’s very strong budget management framework, including substantial statutory budget flexibility to maintain strong reserves and structural budget balance.”  – Standard & Poor’s, 8/23/11

“Missouri’s ‘AAA’ GO rating reflects conservative financial operations, a debt burden at the lower end of the moderate range, and a broad and diverse economy. The state has a long history of maintaining fiscal balance through spending restraint.” – Fitch Ratings, 9/6/11

“Such strong financial performance is particularly remarkable because it occurred during a period that includes some of the most severe fiscal stress experienced by states, and demonstrates Missouri’s determination to maintain a strong credit profile.” – Moody’s Investors Service, 6/30/11