If this doesn't appear in other sources, I'm afraid we'll have to consider it bogus. I didn't take the time to search for it though.
Anyway, USA's debt is getting too big, that's for sure. China is showing a lot of signs that they want to start ditching US dollar assets, and even making some concrete steps towards it:
http://www.businessweek.com/globalbiz/content/may2009/gb20090522_665312.htm?campaign_id=rss_daily
While this won't happen overnight, neither will the steps that USA needs to take to fix the situation (and those steps will be painful).
The problem nowadays is that USA is saying one thing and doing another. They say they have to stabilize housing, but keep racking up debt which makes interest rates go up (hurting the housing market). They say they have to keep deficits under control, but there's no end to the bailouts. We have bank bailouts, auto bailouts, pretty soon state bailouts and whatnot. Raising taxes is considered unamerican, so apparently there's nothing the government can do except raising money from expense cuts and things as shown in the OP.
My Mario Kart Wii friend code: 2707-1866-0957
