This essay is so wrong I don't even know where to start. First, China is not buying our debt anymore and hasn't for a couple of years. The Fed is buying it. It's like using your Mastercard to make the minimum payment on your Visa. Then there's 2014. The Democrats WILL take back the House and gain seats in the Senate. Everything they're doing now, and everything Obama is doing and saying is setting the Republicans up to take the blame for the economic crash that will come in the summer of 2014. We're looking at hyper inflation. A crashed dollar. They'll do it because they know the media will help them destroy what's left of the Republican Party. And it will work.
Being realistic is not being a pessimist.