From the Wikipedia.In a monetarily sovereign country such as the...

From the Wikipedia.

In a monetarily sovereign country such as the United States of America, the United Kingdom and most other countries, government debt held in the home currency can be viewed as savings accounts held at the central bank. In this way this "debt" has a very different meaning to the debt acquired by households who are restricted by their income.

Monetarily sovereign governments issue their own currencies and do not need this income to finance spending.A central government with its own currency can pay for its nominal spending by creating money ex novo,[3] although typical arrangements leave money creation to central banks. In this instance, a government issues securities to the public not to raise funds, but instead to remove excess bank reserves (caused by government spending that is higher than tax receipts) and '...create a shortage of reserves in the market so that the system as a whole must come to the [central] Bank for liquidity.'

So, lets follow the logic.

1 Gov prints money in an amount equal to the deficit and spends it.
2. Banks having little use for it, place it with the reserve bank in the form of excess reserves.
3. Gov issues bonds and sells them to the public causing the excess reserves to be transferred to its account with the reserve bank.
4. Bonds in the hands of the public become certificates of deposit with the reserve bank, sort of..