Disclosed herein is a foamed fracturing fluid comprising a carrier fluid; a polymer that is soluble in the carrier fluid; the polymer being a synthetic polymer, wherein the synthetic polymer comprises a labile group that is operative to facilitate decomposition of the synthetic polymer upon activation of the labile group; a foaming agent; and a gas constituent, the synthetic polymer, foaming agent and gas constituent being operative to increase the viscosity of the carrier fluid to about 50 centipoise or greater at 100 s−1, the foamed fracturing fluid being operative to reduce friction during a downhole fracturing operation and to transport a proppant during the downhole fracturing operation. A method for treating a hydrocarbon-bearing formation is also disclosed herein.