If you've been watching the news today, you probably heard that the city of Detroit has declared Chapter 9 bankruptcy. This is the largest city in the United States to have ever declared bankruptcy. It's being reported that Detroit is facing a budget deficit of $380 million and their long-term debt could be as high as $17 to $20 billion dollars!

This news report from a FOX affiliate in Detroit proves just how bad things are in Detroit:

More From Cat Country 102.9