The U.S. government issues its own bonds from the treasury and from several federal government firms. Those growing in less than one year are understood as T-bills. Bonds that mature in one to ten years are T-notes, and those that take more than ten years to develop are treasury bonds. In some cases, you don't have to pay state or local income taxes on the interest they make.

Munis finance things like hospitals, schools, power plants, streets, workplace buildings, airports, bridges and so on. Towns usually issue bonds when they need more money than they gather through taxes. The good idea about community bonds is that you do not have to pay federal income taxes on the interest they make.

While business bonds are a higher risk than government bonds, they can make a lot more cash. There's also a much bigger selection of business bonds. The disadvantage is that you do need to pay federal earnings tax on the interest they earn. Specifically

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