BREAKING NEWS: Police Officer Shot And Killed In Fox Lake; Manhunt Underway COMING UP: News conference at 3:45 p.m.

Structural Deficit

Mayor Rahm Emanuel

Emanuel: Chicago Is Running A $635.7 Million Deficit

Mayor Rahm Emanuel said Friday the city is facing a $635.7 million shortfall for its budget next year, and it is time to address the city’s structural deficit.

CBS Chicago–07/29/2011