In short, treasury bonds are the total amount of debt borrowed by the federal government and therefore owe creditors or return creditors. Treasury bonds are a very important factor in a national financial system. National debt is well known throughout the world, including but not limited to: government debt, federal debt, and even. But not all of these terms are synonymous with national debt. Although most of the above terms are used to refer to the same concept, there may be some differences and nuances in its meaning. For example, in some countries, especially federal states, the term “government debt” may refer to state, provincial, municipal, and even local government debt and debt held by the central federal government. Another example relates to the meaning of the term “public debt”. For example, in the United States, the term “public debt” refers specifically to public bonds issued by the US Treasury, including Treasury bills, notes and bonds, and savings bonds and special securities issued to state and local governments. government. In this sense, the US public debt is only a part of the total national debt, or all direct liabilities of the US government. One of the other provisions of the United States that is wrongly used in synonymous with national debt is the “national deficit”. Let us discuss how these terms are related, but not interchangeable.