Moody's is the company that rates the quality of debt. It just downgraded US debt a notch from Aaa to Aa1. The company says the downgrade reflects higher debt and higher interest rate ratios. As a practical matter it will make the cost of US debt payments higher.
Whammy #2: five conservative Republicans refused to support Trump's "big, beautiful bill" covering taxes and other financial issues. Why? Because it adds too much debt. Says The NY Times:

"Conservatives on the House Budget Committee on Friday blocked their party’s megabill from reaching the floor, citing concerns that the legislation to fulfill President Trump’s domestic agenda would add too much to the deficit.

It was a remarkable revolt that threatened to upend the party’s goal of pushing the legislation through the House before its Memorial Day recess and sent Republican leaders scrambling to try to put down the uprising.

The setback underscored the treacherous balancing act that Speaker Mike Johnson is trying to pull off. Without the support of Republican hard-liners on the Budget Committee, the bill cannot advance. But any changes to win their backing could alienate the more moderate Republicans whose votes will also be needed to pass the measure on the House floor.

Five Republican representatives — Chip Roy of Texas, Ralph Norman of South Carolina, Josh Brecheen of Oklahoma, Andrew Clyde of Georgia, and Lloyd Smucker of Pennsylvania — joined Democrats in voting to block the legislation. The vote was 16 to 21 on a motion to advance the bill."