They're just figuring this out NOW? It has been for decades at least

now our national debt spiral has reached a terminal stage.

I'm not sure how you quantify that since there is no tangible debt. It's true the government spends currency it doesn't have so it creates more currency. In theory, it should be able to do this for infinity while scaring us they've reached the limit. Sure, there will be hyper inflation, but you just give taxpayers everyone UBI and continuously increase it until everyone is a ward of the state.

money that we must borrow from someone else

Incorrect. The money isn't borrowed, it's continuously created.

But now a day of reckoning is here.

Based on ....? A graph? Because it goes almost straight up?

the entire system is starting to come down all around us

In 1971, Nixon started it. Although, I could make a case it started in 1913.

This article is so dramatic because the author is plugging his book.

A case could be made that we've been insolvent since 1913. Certainly since Nixon took us off the gold standard.

Lol. Has been for decades.