The budget standoff continues in Washington and the deadline to raise the debt ceiling is rapidly approaching.
The interest on debt owed to other countries must be paid.
Creighton University Economist Ernie Goss says the U-S will not default on those payments.
Goss suggests that Congress raise the debt ceiling and get that resolved but federal sequestration must continue. He says that is cutting $92-billion off federal spending this year and that has brought the deficit down to about half compared to several years ago. He says that is a move in the right direction.
Goss says regarding the partial federal government shutdown, that needs to be resolved in the next two to three weeks to avoid a negative impact on the entire economy.