CHICAGO — Missouri Gov. Jay ­Nixon last week announced $126 million of cuts to help fill a new hole in the state’s fiscal 2010 budget. He also proposed a partial government overhaul that would consolidate some departments, sell off state assets, and privatize services to save money in future years.

Revenue is currently down in the triple-A rated state by $700 million, or about 12.7 % compared to last year, state finance officials said. The latest estimates mean about $500 million must be cut from Nixon’s proposed fiscal 2011 budget, officials said. 

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