Chicago Faces Day of Fiscal Reckoning

Sept. 2 -- Chicago is facing a $426 million budget shortfall next year and needs to pay down a $20 billion debt to its workers’ retirement funds that’s left it with a lower credit rating than any big U.S. city except Detroit. Bloomberg's Kate Smith has more on "Bloomberg Markets." -- Subscribe to Bloomberg on YouTube:    / bloomberg   Bloomberg Television offers extensive coverage and analysis of international business news and stories of global importance. It is available in more than 310 million households worldwide and reaches the most affluent and influential viewers in terms of household income, asset value and education levels. With production hubs in London, New York and Hong Kong, the network provides 24-hour continuous coverage of the people, companies and ideas that move the markets.