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What happens if U.S. Congress fails to raise the debt ceiling?
Nick Harper
02:08

Top U.S. Republican and Democrat lawmakers met 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. 

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