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JEFFERSON CITY, MO. -- Gov. Jay Nixon said he plans to take another look in March at whether Missouri needs to lower its revenue forecast and make additional budget cuts.

Nixon has already cut state spending by more than $700 million because tax revenues have fallen short of projections.

Missouri's 2010 budget assumed there would be slight growth in state revenues this year, but last month, state officials revised their revenue forecast to a 6.4 percent decline.

Now, even that appears optimistic. Through January, state revenues were down 12.5 percent for the first seven months of the fiscal year.

Nixon said he wants to see February figures before considering whether the revenue forecast needs to be revised again.