Altman: Government shutdown probable—here’s why

Fed likely to raise over next 3-4 months: Roger Altman

There is one key difference between this government shutdown crisis and previous ones, Evercore's Roger Altman said Monday.

"This is a different situation than the recent shutdown crises because it involves a social policy issue—Planned Parenthood—instead of the typical fiscal and sequester issues. It might be harder to resolve because of that," Altman told CNBC's "Squawk Box."

"It's probably the case that there's going to be a shutdown," said Altman, a Treasury official in the Carter and Clinton administrations.

Roger Altman, founder and chairman, Evercore Partners.
Adam Jeffery | CNBC

U.S. lawmakers have until the end of the month to finalize the country's budget, but are at odds over a bill that would provide funding for the nonprofit organization. Investigations are underway into two secretly recorded videos that appeared to show Planned Parenthood was involved in the illegal sale of aborted fetal tissue for medical research.

Altman said a short shutdown will not have a meaningful impact on the U.S. economy, "although, there's no guarantee of that."

—Reuters contributed to this report.