@parados,
What you say is true. The added cost just on a 1% increase in the interest rate would cost us the following - based on the current debt.
The Outstanding Public Debt as of 23 Jul 2011 at 09:02:30 PM GMT is:
...........public debt...............%.........added cost in interest
$14,350,397,462,514.00... 0.01.......$143,503,974,625.14