brian chung has more. >> the debt ceiling concerns the amount we owe as a nation.ccumulation of that debt. it's $31 trillion, which we have blown through. it's important to note that the debt ceiling doesn't address how much we spend or where we spend. it's a cap on how much we are able to cover on bills we have wrapped up. what happens now? the treasury says we can probably only keep the lights on through june 1st. after that, we might be unable to pay the bills, at which point we may have to start choosing where we can keep the money flowing. social security, medicare, food stamps might be at risk. then there's the risk of our reputation. the u.s. takes pride in its credit worthiness. our credit rating as a nation could fall if we don't. that would lead to a spike in interest rates as financial markets turn away from our government's debt. as a benchmark for borrowing it could make it more expensive to get credit. the ultimate concern would be default. the government starts to straight up miss payments on what it owes the many people, businesses and governments o

brian chung, and aly vitale and joining us is heather boucher.ly we won't get interrupted by a settlement. nothing is on the table. let's talk about what the white house is doing. how serious is the talk about using executive action and invoking the 14th amendment to say the debt limit is unconstitutional and we'll keep on paying our bills. >> listen, katy. the president has been very, very clear time and time again that he wants to see congress do a clean debt limit increase. as you know, this has noted this has happened many, many times in the past and this is a regular thing that congress does and indeed, the speaker himself voted three times during the prior administration to raise the debt limit without any conditions. that has been the president's focus. it's what he's been asking congress to do. it is their constitutional responsibility to make this happen. >> i hear that, how serious are the conversations about using the 14th amendment? >> well, certainly, people here are getting up each and every day very concerned about the economic imp

brian chung has more on what a default could mean for americans. >> the debt ceiling concerns the amount we owe as a nation. and here's how much the u.s. treasury has issued in debts and congress sets limits, aka ceilings on the accumulations of this debt. the current ceiling is $31 trillion, which we've already blown through. it's important to note that the debt creel doesn't address how much we spend or where we spend. it's a cap on how much we're able to cover on bills we've already racked up. the treasury says we can probably only keep the lights on through june 1st after that we might be unable to pay the bills, at which point we might have to start choosing where we can keep the money flowing, that means social security, mid care, food stamps might be at risk the u.s. takes pride in credit worthiness because we have historically paid our bills on time our credit rating could fall if we don't as a benchmark for borrowing costs this could make it more expensive for all of us to get credit for things like houses or cars and the ultimate concern kwob def wou would be default where the

the price of a dozen eggs on the wholesale market is down to its lowest level in nearly two years brian chungak down >> reporter: after an eye-popping rise in egg prices earlier in the year, humpty-dumpty is now having a great fall the average retail price for a dozen eggs now at now at 3$3.2. supply and demand now tilting in favor of the consumers the deadly bird bflu now startig to get under control sick birds lid to low supply in december, the time when the demand is highest. in the u.s., there were about 308-m 308-million laying hens. the profits grew more than 700% in the last quarter. profits ruffled feathers on capitol hill with democrats like senator elizabeth warren and katie porter accusing them of price gouging. cal main's response, we don't set prices but the hen population is growing again, moving back up to 314 million in march so supply's back in order. all while demand wanes >> we're post a week after mother's day, moving into memorial day which comes into your grilling season >> reporter: with the holidays over and school about to break, the peak time for baking and eating br

brian chung is going to be following this. and where are we on this? >> this is unchartered ground, and this is the lawsuit that is going to be how tech platforms are regulated in the united states. we are talking about serious constitutional concerns raised in view of this law, and tiktok and american civil liberties union is saying that this law that bans tiktok in montana threatens the first amendment rights of tiktok by banning them from legal speech and expressing themselves on the internet, and something called the bills of attainer which are laws to penalize a company without due pro process, and those are illegal under the state constitution. so both of those theories are going to be tested here as the lawsuit comes into play. and another point to highlight here is that it is not just tiktok that is a target of the ban. you have companies like apple and google and other app store operators who are prohibited under this law from making tic t tictok available to users to download. this is a significant fine of up to $10,000 per violation per day,

. >> let's bring in garrett haake, business and data reporter brian chung and "new york times" chief white house correspondent peter baker and chief economist of the president's council of advisors under president bush, douglas egan. garrett, how are you reading the signals? no one is sending up any white smoke indicating there's a deal. >> reporter: nobody has walked away from the table recently either. that's probably the most positive sign. the negotiators were back meeting between the white house and house republicans last night until close to midnight, we are told, trying to come to an agreement. the reality here is they are basically out of time. they need to reach a deal by close of business today or early tomorrow to turn it into a bill that can pass both chambers and be on president biden's desk before we get through the day on june 1st. we can quibble over what happens on june 1st if that bill to raise the debt ceiling is not signed. perhaps there's more time, perhaps there's not. that's really the deadline they are working on. the combination of a quick look at the calenda

the list goes on >> let's unpack this with kristen welker and business reporter, brian chung. in fact, did happen >> we need to talk about what a credit rating is it's a grade for how the united states government is able to pay its bills in full and on time. now, fitch ratings has said that the united states rating is sterling it's a aaa but they say that could be in jeopardy if they get past that june 1st deadline without a resolution, which would call into question very much the creditworthiness of the world's largest economy. >> this is an economic story assist political story, kristen, you're here for that i was so struck by some of the words in which fitch said. it said, the contested 2020 presidential election, brinksmanship over the debt limit, to advance political agendas and failure to reach consensus on the country's fiscal challenges are recent signs of the deterioration in governance these are outside observers saying the u.s. government is not working and blaming partisans on both sides. it's pretty stunning >> and i talked to republican and democratic sources ove