- If you thought that the Obamacare debacle was bad, just wait until you see what happens next. The continuing resolution that is currently funding the government expires on April 28th, and if a new funding agreement is not reached prior to that time, there will be a government shutdown like we witnessed in 2013 starting on April 29th. Unfortunately, as I will explain below, if a government shutdown happens it may go for a lot longer than just a couple of weeks this time around.
- April 28th may sound like it is quite some time away, but because the congressional calendar has so many “holes” in it, there is actually not very much time for Congress to act.
- If you can believe it, there are only 12 “legislative days” between now and April 28th, and if something is not done on one of those 12 days the government will shut down on April 29th.
- Needless to say, a government shutdown would greatly rattle the financial markets.