Entries in Revenue (2)


NFL Owners Offer Lessons for Washington in Fiscal Problem-Solving

Adam Gault/Thinkstock(WASHINGTON) -- A tragedy was averted in Washington Monday, with a historic breakthrough between two opposing sides who’ve been deadlocked for months, with billions of dollars at stake.

That’s right: Negotiations worked -- in football, that is.

It gave New England Patriots owner Robert Kraft an idea:

"I hope we gave a little lesson to the people in Washington,” Kraft said Monday afternoon, “because the debt crisis is a lot easier to fix than this deal was.”

Actually, the NFL standoff has, by some measures, lasted longer. Football’s lockout started way back in March -- weeks before a spending clash nearly shut down the government, and months before the once-unthinkable prospect of debt default became quite thinkable.

But why can NFL players come to agreement with owners, while Republicans and Democrats are still fighting over yardage?

A few numbers may help. Football players and owners have been deadlocked on how to split up $9 billion in annual revenue. Meanwhile, on Capitol Hill, the subject is the $14.3 trillion debt limit.

Revenue in the billions vs. debt in the trillions? Which one’s easier again? Here’s throwing a flag on Kraft’s play.

Copyright 2011 ABC News Radio


State Revenues Drop, Spending on the Rise

Photo Courtesy - Getty Images(SUITLAND, Md.) -- State government revenue dropped in 2009 while state spending increased, according to new data released by the U.S. Census Bureau.
The overall state government revenue declined to $1.1 trillion in 2009, a 30.8-percent drop from $1.6 trillion in 2008. 

Total taxes collected made up the largest portion of revenue at $715.1 billion, an 8.5-percent decline from 2008.

Although state governments saw a decline in revenue, they spent three percent more than 2008 with $1.5 trillion in total state expenditures in 2009. Top expenditures included education, public welfare and public hospitals and health.

Copyright 2011 ABC News Radio

ABC News Radio