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What occurs when the US debt ceiling drawback defaults | NHK

What occurs when the US debt ceiling drawback defaults | NHK

Talks between President Biden and opposition events scheduled for the twelfth over elevating the US debt ceiling shall be postponed to subsequent week.

President Biden has stated that relying on how the talks go, he might keep within the United States and never go to Japan on the G7 Hiroshima Summit, which opens subsequent week, and a focus is being paid to the end result of the negotiations.

What is that this drawback with the US debt ceiling?
What will occur if Congress doesn’t approve and default = default?

I’ll clarify it in an easy-to-understand method.

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