The Australian government, a conservative government, raised their debt ceiling by two-thirds. That would be the equivalent of an $11.4 trillion increase here in America. And they did it without a shutdown or holding anyone hostage or asking for an equivalent amount of spending cuts.
Here are the words of Australia's Treasurer, Joe Hockey:
"The debt limit needs to be set so as to provide sufficient headroom to ensure there is stability and certainty for the financial markets about the government's capacity to finance its operations for the foreseeable future.”
Now contrast that with the statements of Republican Congressman Ted Yoho (R-FL) a member of the Tea Party:
“I think, personally, it would bring stability to world markets.”