This represents a drastic misrepresentation of the budget/debt ceiling crisis. The author is saying if the debt ceiling isn't extended and the US Treasury doesn't have the authorization to issue more debt, we'll default on our current debts. This is simply not true.
This is why:
|2014 White House OMB Budget, page 9|
It's estimated that it'll cost just 223 billion dollars to service our debt. The Federal government can collect 2.7 trillion dollars, 12 times that amount, without needing to borrow a cent. If defaulting on our debt would be that harmful to the global economy, the US Treasury can simply...not default on the debt.