On Friday, the credit rating of the United States was downgraded. Moody’s, the ratings firm, announced that the government’s rising debt levels would grow further if the Trump Republican package of new tax cuts were enacted. This makes lending to the US riskier.

Moody’s is the third of the three major credit-rating agencies to downgrade the credit rating of the United States.

So-called “bond vigilantes” have already been selling the US government’s debt, as the Republican tax package moves through Congress. They’re expected to sell even more, driving long-term interest rates even higher to make up for the growing risk of holding US debt.

Some rightwing

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