Congressman Carney, I am outraged at the irresponsible government spending embodied in the latest election year bailout. Anyone would think we didn't have one of the most massive government deficits in history! In particular, I am horrified at the increase in the limits on the mortgages that can be secured by Freddie Mac and Fannie Mae. These are companies that have been in the news recently for poor management practices. As Senator Mel Martinez from Florida said, increasing these mortgage limits without improving government regulation is like handing over the dessert without requiring the kid to eat the vegetables. In addition, this is going to delay a necessary correction in the housing market. Fannie Mae and Freddie Mac are going to take on more risk; then, when they get into trouble as housing prices eventually decline, as they must, Congress will use my taxpayer dollars to bail them out. I am tired of seeing taxpayer dollars used to redistribute wealth from the poor (e.g. renters) to the greedy rich (people who borrowed irresponsibly to buy McMansions during the housing bubble). This deal represents the very worst in election year pandering, storing up problems for future years in order to ensure re-election in the short term. Sincerely, Glen R.
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