When an individual has bad credit, it might be harder to rent an apartment, buy a car, or get a loan. But what happens when a city or state has a low credit rating? After one agency downgraded Chicago’s rating and as the governor prepares to make his budget address next week, host Jacoby Cochran talks with DePaul University professor Amanda Kass about how municipal credit ratings work, why Chicago is close to “junk” status, and what it says about the city’s financial health.

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Why Does Chicago Have Bad Credit?