Isolating the Speaker of Parliament.. What is the closure law and what are the 10 countries that are America’s largest creditors?

Because of the passing of a law that avoided a government shutdown, the Speaker of the US House of Representatives was removed. What is a government shutdown, and which countries are America’s largest creditors?

Passing a law to avoid the temporary closure of the US government caused the ouster of Speaker of the House of Representatives, Kevin McCarthy, in an event that Americans are experiencing for the first time. What is the closure, and what are the 10 countries most creditor to America?

American debt, for the first time ever, exceeded $33 trillion on September 18th. The American national debt represents the total money borrowed by the US federal government to cover required spending.

The US national debt is equivalent to the size of the economies of China, Japan, Germany, India, and the United Kingdom combined, with the fact that these countries constitute the world's largest economies after the United States.

This debt includes US Treasury bonds and other financial bonds, which some countries buy as among the safest investment options.

What is the US government shutdown?

A US government shutdown occurs when the US Congress fails to reach an agreement on funding the federal government's budget for the new fiscal year on October 1.

In other words, if an agreement is not reached between the President and Congress on the government's budget, it could lead to the cessation of many federal government agencies and services, so each year 12 appropriations bills must be passed that constitute the discretionary spending budget and determine funding levels for the federal government.

Complete or partial government shutdown

If lawmakers fail to enact all or some of the appropriations bills, many government operations halt, resulting in a complete or partial government shutdown until Congress acts.

The shutdown can be complete or partial, with some government agencies and agencies completely stopping, while some essential services remain open. During the shutdown, government employees whose services are not considered essential for national security or other essential functions are suspended.

Each federal agency develops a contingency plan that specifies its functions that will continue during the closure, as well as the number of its employees who will continue to work and the number of employees who will be furloughed until the closure ends.

The 10 largest creditor countries of the United States of America

In fact, Japan ranks first, followed by China and then the United Kingdom, among Washington's external creditors, noting that the largest owner of American debt in general is actually the United States government, which holds financial treasury bonds in various government accounts and pension funds.

Japan topped the list of countries with the most US debt, with about $1.112 trillion, followed by China with $821 billion, then the United Kingdom, Luxembourg, and Belgium, with about $662, 349, and 318 billion dollars, respectively, according to US Treasury Department data at the end of last July.

Switzerland came in sixth place, on the list of countries that possess the most American debt, with about $301 billion, the Cayman Islands, in seventh place, with about $295 billion, then Canada, with about $293 billion, while Ireland comes in ninth place on the list of countries that possess the most American debt, with about $295 billion. $271 billion, then Taiwan is in tenth place with about $243 billion.