That’s what I’ve been saying!

The Hoover Institution’s Michael McConnell, on whether or not the federal debt ceiling is “unconstitutional:”

The theory is bunk.

Yes! Bunk! That’s what I’ve been saying!

McConnell, a Stanford University law professor and former federal judge, uses a lot more words to explain himself than I did (as one might expect from a hifalutin’ law professor), but reaches the same conclusion for the same reasons. And I spent a lot less money on my stupid B.A. So take that.

Here’s my favorite part:

If we reach the debt limit, the Treasury will be compelled to reduce spending (other than payments on the public debt and pensions) to bring current expenditures in line with current receipts, just as a family has to do when it has maxed out on its credit cards.

Oh, the horror!

Presumably, the executive branch will have to make the tough decisions about priorities.

Ha! He’s totally kidding.

No law exists to guide the process. In theory, essential services and payments will keep flowing, and less essential services and payments will be postponed.

Seriously, how is he saying that with a straight face?

In practice, if history is any guide, politicians in the executive branch will find it more in their interest to shutter the most conspicuous and painful services first — this is called “closing the Washington Monument” — to maximize public pressure to increase the limit.

Or maybe military paychecks and Grandma’s medicine.

UPDATE – Now at The Trog: Megan McArdle leaning heavily toward David Brooks on debt ceiling talks

Now the really best part:

It would be a crying shame if the executive stopped funding truly inessential services and programs, and no one (other than the immediate beneficiaries) noticed.

Yeah, that would be a shame. Also what many of us predict would actually happen if we suddenly cut the federal government in half.

Previously on TrogloPundit:

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