California is battling a tough recession, a budget that is at least $20 billion in the red and an unemployment rate inching towards 13 percent. While the taxpayer has had enough of bailout after bailout, Senator Barbara Boxer (D-CA) decided to bail out Fannie and Freddie Mac by voting to give them billions more to squander.
The California U.S. Senator kept Californians on the hook for the endless bailouts of Fannie Mae and Freddie Mac; instead of focusing on fixing the mortgage giant she cast a partisan vote against reforming the two government-run home loan companies.
Senate Democrats moved to kill an amendment this week that would have protected taxpayers from future bailouts and slow down the government control of Fannie Mae and Freddie Mac.
Insiders are concerned the perpetual spending on a nearly defunct program could hinder the reelection of blue dog Democrats due the fatigue Americans have regarding the number of bailouts Washington D.C. handing out. Both of these institutions have historically showered Democrats with campaign cash.