The Sequester isn't alone
Updated On: Feb 28 2013 10:34:09 PM CST
The final countdown has officially begun before sequestration takes place and financial experts say this is just one of many upcoming battles facing our economy.
March 27th is the next deadline to hit and that's for a budget continuation, if Congress can't make up their minds on that experts say a government shutdown is very possible.
According to economist Kamran Afshar, all the catastrophe-talk is what happens when politics trumps policy.
"We have fiscal cliff and sequester and then sequester sequel, and sequel two, and sequester part three and then son of sequester, looks like Washington is having fun at our expense," Afshar said.
The upcoming budget battle may set off a government shutdown, the last time such a thing happened was in 1995 when Democratic President Bill Clinton vetoed the spending bill the Republican Party led Congress sent him.
Since the federal government hasn't passed a budget in nearly four years, Congress has been passing budget continuations in the form of a "Continuing Resolution".
Come March 27th, the current resolution that funds overall discretionary spending of the federal government runs out.
"We do need a budget and if we had a budget obviously these continuations would be unnecessary but still the debt ceiling would come regardless of the budget," said Afshar.
The debt ceiling deadline is set for May, meanwhile Afshar says he's convinced it's the lack of bipartisanship in Washington that's led to so many cliffs in such a short period of time.
"One of the ways we can help is to pick up the phone and call our representatives in Washington and ask them to work together," he said.
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