U.S. government debt soars

• Story Highlights
• The U.S. national debt equates to almost $30,000 in debt for every American
  
• U.S. government faces the prospect of seeing debt rolling over to higher rates
  
• Interest payments could lead to sharply higher taxes, cuts in basic services
  
• National debt is up from $5.7 trillion when Bush took office to $10 trillion in 2009
  
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