NY looks to ultimate fighting to help fight its budget woes

New York Gov. David Paterson is looking to legalize mixed martial arts, also called ultimate fighting, as a way to help balance the state's estimated $7.4 billion deficit for the upcoming budget year.

Don't bet on MMA fighter Kimbo Slice coming to New York to debate any legislators against the idea, although a stare-down from the Mr.T look-alike with state senators in Albany would be worth a pay-per-view event.

It's a popular and violent sport of hand-to-hand combat that Peterson thinks could bring some revenue to his state. I've never been to an MMA event or watched one on TV, but a few years ago during the baseball playoffs I couldn't get a seat at a bar in California because the place was filled for a fight that was to be televised within an hour.