If you think Ryan Howard's contract is absurd, maybe you want to take a look at Kevin Kolb's contract, since the Eagles just extended it by another year. He will now make a GUARANTEED $12.26 million dollars over the next two years.
Not many NFL players get guaranteed money like that due to the serious risk of injury, but Kevin Kolb does. Let's put this in perspective, Kevin Kolb has attempted 130 passes in the NFL, ever.
It's not nearly as much as Ryan Howard, but Howard has had one of the best 4 year stretches in the history of his sport, won an MVP award, a World Series, and is nicknamed "The Big Piece." His contract may be outlandish, but it's borderline deserved.
Kolb on the other hand, is getting an awful lot of money for somebody who has been a career backup (sans a couple of starts). Andy Reid is realllllly hoping this one works out.