In 2016, she led operations in Florida for Trump’s first successful election campaign, and in 2024, she served as his national campaign manager.
To borrow money, the Treasury sells various types of debt securities, such as Treasury bills, Treasury notes and Treasury bonds to investors.These securities are essentially loans made by investors to the US government, with a promise to repay them with interest.
US Treasuries have long been considered a safe asset because the risk of the US failing to repay its investors has been very low.Different debt securities mature over different times – this is when the debt is repaid to the investor.Three-quarters of the $36.2 trillion US debt, approximately $27.2 trillion, is held domestically, of which:
Among individuals, Warren Buffett, through his company Berkshire Hathaway, is the single largest non-government holder of US Treasury bills, valued at $314bn.Foreign investors hold the remaining quarter, valued at $9.05 trillion (25 percent).
Over the past 50 years, the share of US debt held by foreign entities has increased fivefold. In 1970, only 5 percent was owned by overseas investors; today, that figure has risen to 25 percent.
Which countries hold the most foreign debt?Yet, Oualata’s proximity to the Malian border leaves it acutely vulnerable to the unforgiving environment of the Sahara. Scorching heat and seasonal downpours have left piles of stone and gaping holes in the town’s historical walls, the aftermath of especially severe recent rains.
“Many houses have collapsed because of the rains,” said Khady, standing beside her crumbling childhood home, now her inheritance from her grandparents.Depopulation has only accelerated Oualata’s decline.
“The houses became ruins because their owners left them,” explained Sidiya, who is a member of a national foundation dedicated to preserving the country’s ancient towns.For generations, Oualata’s population has steadily dwindled as residents depart in search of work, leaving the historical buildings neglected. The traditional structures, coated in reddish mud-brick known as banco, were crafted to withstand the desert climate, but require maintenance after each rainy season.