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AP Explains: What could happen if U.S. defaults

President Joe Biden and House Speaker Kevin McCarthy are to meet face to face on Monday after a weekend of on again, off again negotiations over raising the nation’s debt ceiling. Their meeting comes mere days before the government could reach a “hard deadline” and run out of cash to pay its bills. The two sides are working to reach a budget compromise before June 1. (May 22) 
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Source name: 
The Associated Press
Unique identifier: CP167021068 
Legacy Identifier: 0b3127cd0d0e42109db06ef98b67985e 
Type: Video 
Duration: 2m36s 
Dimensions: 1920px × 1080px     191.51 MB 
Usage rights: Digital platform use only. Broadcast rights and editing of content prohibited. 
Create Date: 5/22/2023 3:28:56 PM 
Display aspect ratio: 16:9