Walter Williams explained in 2009 what the "Rule of Law" is and isn't. Unfortunately, we don't have it in the United States anymore. Even less fortunate, a lot of Americans would oppose it if they understood what the term actually meant.
FEE (Foundation for Economic Education) article:
"Rule of Law versus Legislative Orders"
By Walter E. Williams • Friday, October 23, 2009
Excerpt (but read the whole article — it's really worth it):
That Americans have become ruled by orders and special privileges helps explain all the lobbyists, money, and graft in Washington. We’ve moved away from a government with limited powers, as our Founders envisioned, to one with awesome powers. Therefore, it pays people to spend huge amounts of money to influence Congress in their favor. Privilege-granting is precisely what most Americans want, though they might disagree on who gets what privilege. Most Americans have no inkling of what the rule of law means. We think it means obedience to whatever laws Congress enacts and the president signs. That’s a tragedy.