Joe cries Wolf over apples and oranges

The Federal Government's move to raise Australia's national debt limit from $300 billion to $500 billion does not signal a debt ceiling crisis in Australia, but it does signify that the current debt limit will be exceeded later this year. Allowing that to happen without prior legislative authority would create uncertainty.
However, Mr Hockey overreached when he compared that prospect with recent events in the United States. Given the fundamental differences in the two political systems, the "tremendous uncertainty" experienced in the US would not be mirrored here
ABC