Now for my next magic trick......
The mortgage calculation that I did yesterday on a $43 billion debt with a 30 year repayment horizon spat out annual repayments of $3.4 billion.
Now, if you multiply $3.4 billion by 30 years you get ..... not $43 billion but $102 billion. As anyone with a mortgage knows, you pay the bank more in interest than you initially borrow. In this case, you borrow $43 billion and end up repaying just a shade under $60 billion in interest.
Have any of these morons in Treasury done their numbers?