by Michael Maharrey, Schiff Gold:

Here we go again.

The clock is ticking down to another US debt ceiling fight.

According to Treasury Secretary Janet Yellen, the US government will officially bump up against the debt ceiling Thursday (Jan. 19).

The debt ceiling is “the total amount of money that the United States government is authorized to borrow to meet existing legal obligations, including Social Security and Medicare Benefits, military salaries, interest on the national debt, tax refunds and other payments.”