The debt limit negotiations between GOP negotiators and the White House ended Friday night with no progress after meeting for roughly an hour and a half.
The extraordinary measures will buy Congress some time -- Secretary Yellen said it's unlikely the government will exhaust its cash and the emergency maneuvers before early June, though she noted there is "considerable uncertainty" around that forecast.
If the U.S. government cannot pay its bills, millions of Americans would feel a direct economic impact.
In short, probably not. But it is an emergency idea that pops up each time Congress threatens to let America run out of money.
Moody's estimates nearly 6 million jobs would be lost, the unemployment rate would spike back to nearly 9% and stock prices would plummet.