The total amount of debt owed by the Federal government is represented by the total value of the outstanding:

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The total amount of debt owed by the federal government is represented by the total value of the outstanding U.S. government securities, which include treasury bonds, notes, and bills. These securities are issued to finance the government's budget deficits and are sold to investors both domestically and internationally. The outstanding amount of these securities reflects the total amount of debt owed by the federal government. The other options, including Federal Reserve notes, bank loans and deposits, and stocks and bonds, are not representative of the total amount of debt owed by the federal government.

The Total Amount of Debt Owed by the Federal Government