To put it simply, "Why we do we continue to buy China's crap?" Because we HAVE TO.
Unfortunately, we now have (and have had for several decades now) not only a consumer culture, but a consumer ECONOMY. At this point our economy is completely built upon consumption of cheap products from China.
Those who fear the amount of our debt which China holds and who fear that should the Chinese switch to another currency that the dollar would tank...well. It's not going to happen.
Our economies now depend on each other. We depend on cheap goods from China, and likewise, China depends on us as a consumer of their exports. If China switches to another currency (and the USD tanks as a result), they not only lose money in the remaining debt/holdings in the USD, their economy is also basically ruined.
That being said, there are ways to cut down on the trade deficit and still keep things rolling (or at least to slowly transition). You see, right now the Yuan (Chinese currency) is being held artificially low by the Chinese (through the use of a dual-exhcange rate). What we COULD do, is institute a dual-exchange rate ourselves (this could potentially cut the trade deficit nearly in half - though that would be a high estimate). What this would do would be to make the Chinese products we import slightly more expensive to the US consumer, but make Chinese imports of US resources/goods/services slightly cheaper for Chinese businesses/consumers.
There has been talk of this bandied about by economists for over a decade now but as of yet political leaders and policy makers have not been onboard (for obvious reasons ie lobbying and certain cozy relationships).