After Dramatic Obamacare Failure, Trump Now Faces A Looming Government Shutdown He May Not Be Able To Prevent

Tuesday, March 28, 2017
By Paul Martin

By Michael Snyder
March 27th, 2017

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. Thanks to the Obamacare disaster, the Dow has now experienced its longest losing streak in six years, and another down day for the Dow on Tuesday would make it the longest losing streak since 1978.

With the Republicans in control of the White House, the Senate and the House of Representatives, you would think that a government shutdown would be unlikely.

Sadly, that is not the case. In fact, political reporter Mike Allen says that a “top Republican” told him that a government shutdown on April 29th is “more likely than not”…

A top Republican with close ties to the White House tells me that after the GOP failure on healthcare, a government shutdown — looming when a continuing resolution runs out April 28 — is “more likely than not… Wall Street is not expecting a shutdown and the markets are unprepared.”

And Chris Krueger of Cowen Washington Research Group today will warn financial clients: “Hello April 29 government shutdown.”

That’s Day 100 of the Trump presidency, by the way.

The Rest…HERE

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