Treasury bills or T bills are government-issued short-term bonds that are guaranteed for repayment by the United States treasury department. These are the safe investments that can generate you short term return equaling the risk-free rate. The T-Bills can have maturities of up to one year falling to 6 months, 3 months, and 1 month.
The T-Bills are issued at a discount value to the face value that is $1000. Assume you can buy a T-Bill that has 6 months till maturity for $980 today. After 6 months you will get the face value of $1000. The government uses the funds raised through T-bills in public service projects like the construction of parks for the public, museums, etc.
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