Treasury debt, also known as government debt or sovereign debt, is money that is borrowed by a government from investors in order to finance government spending. This can include things like infrastructure projects, social welfare programs, and military expenses. When the government borrows money by issuing Treasury debt, it promises to pay the money back to the investors with interest. Treasury debt is considered to be among the safest investments because it is backed by the full faith and credit of the government issuing the debt.

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