Watch the Credit Ratings Agencies

Brian Beutler: “That brings us to the present—the Trump administration’s claim of unchecked power to honor or disregard its payment obligations, its lawless and opaque meddling with the payment system the Treasury Department uses to honor American spending commitments, and the swift erosion of the rule of law.”

“If ratings agencies were able to detect political instability by watching contentious or irresponsible legislative fights play out, you’d think they’d be able to draw some conclusions based on the fiat transformation of the U.S. system of government from a democratic republic into whatever this is.”