US Treasury Secretary Janet Yellen has warned Congress that if the debt ceiling is not raised, the federal government could face a default by early June.

Augustana University economics professor Reynold Nesiba says that would be uncharted territory….

Nesiba says the federal government has run on a deficit through history….

Nesiba says the US Treasury and Federal Reserve may still have some options….

Nesiba says partisan politics is getting in the way of good fiscal management.