Portugal's prime minister resigned after the country's parliament rejected a key round of budget cuts. Investors responded negatively — making it more expensive for the country to borrow money.
Manufacturing companies worldwide are responding to changes in the supply chain after the Japan tsunami. Now, many Chinese companies want to fill in the production gaps, a move that could cost Japan billions of dollars.
Ten former chairs of the Council of Economic Advisers write in an op-ed for Politico that the political battle over this year's budget is a distraction from the more "dire" problem — the structural budget deficit.