"Anything that goes on in any aspect of the population that takes dollars out of their pockets for whatever government purpose probably is not positive at this point in time in the economy," Sperling said.

Private Equity's Exit Strategy

With the IPO window closing, will private equity firms look to unload assets on each other instead of the public? Scott Sperling, of THL Partners, and "The Strategy Session" hosts discuss.

For that reason, the big concern is the consumerand the pressure that will be on the consumer next year, which is largely related to government policy, he said.

"The only way demand builds in when the consumer has more capital to spend," he concluded.