Complex sentence: Public debt is the most relevant data for discussions of government default and debt ceilings; although of similar magnitude for the US (2010), it is different from external debt, which instead reflects the foreign currency liabilities of both the private and public sector.
Split into simpler sentences: Public debt is the most relevant data for discussions of government default and debt ceilings. Although of similar magnitude for the US (2010), it is different from external debt, which instead reflects the foreign currency liabilities of both the private and public sector.