Here's what happens if the U.S. can't pay its national debt

The recent debt ceiling standoff gave a glimpse into how catastrophic a federal default would be for the U.S. economy. While a bipartisan agreement is the easiest solution to the crisis, there are other possible solutions to breaking the standoff, including a $1 trillion coin that has gained traction in recent years. So what exactly would happen if the U.S. government fails to raise the debt ceiling, and can a $1 trillion coin really put a stop to the crisis?