My phone is encrypted and i was just playing with the configuration and just found a Trusted Credentials that got me curious on what it is and specially in one called Government Root Certification Authority (Government Root (CA) or Goverment(CA)) and i'm wondering what is that. Also i'm wondering what kind of vulnerability this may put on my phone and if i should disable some of those credentials.
Trusted credentials are nothing else than CA's your device is trusting. This is basically a truststore of your phone. Disabling them may lead to a lot of problems with applications that depend on certificate-based authentication (most of them really). When you trust a root CA you'll also trust the certificates issued by it. This is very important for accessing different API's and webservers. I would not touch those settings if you don't know anything about the public key cryptography and implications of trust.