Maryland Comptroller: Averting Fiscal Cliff, NFL Playoffs Boost Economy | WAMU 88.5 - American University Radio

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Maryland Comptroller: Averting Fiscal Cliff, NFL Playoffs Boost Economy

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Home playoff games for the Baltimore Ravens and Washington Redskins should give Maryland's economy a small shot in the arm.
Nick Hall: http://www.flickr.com/photos/nhall/3539538566/
Home playoff games for the Baltimore Ravens and Washington Redskins should give Maryland's economy a small shot in the arm.

Maryland's top financial official has a mixed reaction to the deal to avert the "fiscal cliff" in Washington.

Comptroller Peter Franchot says the good news for Maryland is that the spending cuts that would have occurred had Congress gone over the cliff have been avoided — cuts that would have been devastating to the state's economy, given the large number of residents who work for the federal government and its various agencies that are located in Maryland.

Franchot adds the deal does nothing to speed up what he calls a "slow economic recovery" in Maryland.

Maryland's comptroller did say, somewhat light-heartedly, that Maryland is seeing a spike in sales tax revenue this week. That's because both the Baltimore Ravens and Washington Redskins, who play their home games in Maryland, are both in the NFL playoffs, and fans are buying plenty of keepsakes to commemorate that.

The revenue spike figures to go only higher because both teams play home playoff games this Sunday.

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