蜜芽传媒

US President Trump is expected to get what he calls his "big beautiful bill" through Congress later today.

It extends the tax cuts from his first term, but in doing so adds $3 trillion to the nation's debt. A pile that has increased every year since 2001.

The World At One's Sarah Montague and PM's Evan Davis discuss the power of the bond markets, after financial services company Moody's downgraded the US credit rating this week - the first time that's happened since 1917.