The recent loss of Maryland’s decades-long and prized AAA Moody’s credit rating could have a lasting ripple effect on future local government budgets. Here’s why.

Maryland lost its triple-A bond rating from Moody's on Wednesday, a rating the state has cited for more than 50 years as a sign of strong fiscal stewardship. Moody’s downgraded the state’s credit rating to Aa1.

Democrats blame Trump's cuts to the federal workforce as the reason for the change, but Republicans point to what they call reckless spending.