YouCut – a first-of-its-kind project - is designed to defeat the permissive culture of runaway spending in Congress. It allows you to vote, both online and on your cell phone, on spending cuts that you want to see the House enact. Vote on this page today for your priorities and together we can begin to change Washington's culture of spending into a culture of savings.One of this week's candidates is
Reform Fannie Mae and Freddie MacIf they'd had "Cancel Fannie Mae and Freddie Mac" I would have voted for that...
Savings estimated at $30 billion.
Since taking over Fannie Mae and Freddie Mac, the two government sponsored mortgage-backing companies, taxpayers have injected over $145 billion into the two companies. Yet Congress still has not considered proposals to reform these companies and recoup taxpayer funds. The Congressional Budget Office has estimated that absent reform, costs to taxpayer will continue to grow. Taking action to reform these companies now (as opposed to delaying action as some have proposed) by ending their government conservatorship, shrinking their portfolios, establishing minimum capital standards, and bringing transparency to taxpayer exposure could generate savings of up to an estimated $30 billion.
Congressman Cantor said that last week's "You Cut Winner" was "Eliminate pay raises for Federal Employees", which the Democrats refused to consider since "It would mean that Feds in DC would not get a raise."
Someone call a Waaaaahmbulance!