Economist Ernie Goss comment on the debt crisis

OMAHA, N.E.(KELO)- Talks are scheduled in Washington to raise the national debt ceiling.

Treasury Secretary Janet Yellen says it will be a calamity for the U.S. if a deal isn’t reached. 

Yellen says that could lead to default, which Economist Professor Ernie Goss says would hit investments hard.

Yellen says the nation will default if there isn’t a deal by the end of the month. 

Goss says a better question might be, “when do we run into real trouble?

Goss says the time is coming soon when, at best, the Treasury Department will have to begin which bills to pay, and which bills have to wait.

Goss believes a deal will be reached before real trouble begins…or possibly in early June.