What happens if U.S. Congress fails to raise the debt ceiling?

World Today

What happens if U.S. Congress fails to raise the debt ceiling?

Top U.S. Republican and Democrat lawmakers are meeting President Joe Biden at the White House as they try to hash out a deal to raise the debt ceiling.

The Treasury Department has warned the country could default as soon as June 1st.

CGTN’s Nick Harper in Washington looks at the potential knock-on effects of the U.S. not being unable to pay its debts.