So I’ve been thinking about comparisons between Watergate and the murky, fast-changing Comey-Russia-Flynn-Trump affair. As with anything involving Donald Trump, we have no idea where this will lead, what is “true,” and when the next bombshell will go off.

But based simply on what is known so far, this scandal looks worse than Watergate. Worse for and about the president. Worse for the overall national interest. Worse in what it suggests about the American democratic system’s ability to defend itself. Here is a summary of some reasons why:

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The underlying offense

At some point in the coverage of every scandal you’ll hear the chestnut “It’s always the cover-up, never the crime.” This refers of course to the historical reality that scandal-bound figures make more problems by denying or lying about their misdeeds than they would if they had come clean from the start.

This saying first became really popular in the Watergate era—which is significant for what it suggests about the gravity of the underlying crime in that case. Richard Nixon’s beleaguered press secretary Ron Ziegler, a Sean Spicer–like figure of that era, oversold the point when he dismissed the break-in at Democratic National Committee headquarters as a “third-rate burglary.” But the worst version of what Nixon and his allies were attempting to do—namely, to find incriminating or embarrassing information about political adversaries ranging from Democratic Party Chairman Lawrence O’Brien to Pentagon Papers whistleblower Daniel Ellsberg—was not as bad as what came afterward. Those later efforts included attempts to derail investigations by the FBI, the police, and various grand juries and congressional committees, which collectively amounted to obstruction of justice.

And what is alleged this time? Nothing less than attacks by an authoritarian foreign government on the fundamentals of American democracy, by interfering with an election—and doing so as part of a larger strategy that included parallel interference in the United Kingdom, France, Germany, and elsewhere. At worst, such efforts might actually have changed the election results. At least, they were meant to destroy trust in democracy. Not much of this is fully understood or proven, but the potential stakes are incomparably greater than what happened during Watergate, crime and cover-up alike.

The blatancy of the interference

A climactic event of the Watergate saga, the “Saturday Night Massacre” of October 1973, is too complex to lay out in full. (More here.) Its essence was a nearly-last-gasp attempt by Nixon to prevent a special prosecutor from getting full access to the Oval Office tapes whose existence had recently become known.

But even in his stonewalling, Nixon paid lip service to the concepts of due process and check and balances. (His proffered solution was something called the “Stennis compromise,” in which the very conservative Senator John Stennis, from Mississippi, would “listen” personally to the tapes and summarize their content. As it happens, Stennis was famous for being practically deaf.) Nixon wanted to survive and win, but he wanted to act as if he was doing so while sticking to some recognizable rules.