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What is the difference between Internal and External Debt, and which do we need to be more concerned about? Why is this the case? Consider

  1. What is the difference between Internal and External Debt, and which do we need to be more concerned about? Why is this the case?
  2. Consider the quoted excerpt from chapter 31 in your textbook: "But there are limits, and at some point, the United States will reach a tipping point...."

-What is the "tipping point" that the author is referring to, and why wouldn't the Fed be able to solve the problem that is identified in this statement?

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