budgetlag
Budgetlag refers to a situation where a government fails to pass its annual budget on time. This can occur for a variety of reasons, including political disagreements, complex negotiations, or unforeseen economic circumstances. When a budgetlag happens, governments typically operate under a continuing resolution, which allows them to spend money at previous levels for a limited time. This can create uncertainty and make it difficult for government agencies and departments to plan long-term projects or allocate resources effectively.
The consequences of a budgetlag can be far-reaching. For businesses that rely on government contracts or funding,