By Mike Krauser, includes 40-second radio segment, and text “Chicago is the Second City when it comes to public debt. Chicago is considered a ‘sinkhole city’ by the financial watchdog group, ‘Truth in Accounting,’ because there is not enough cash to cover the debt. … But most of the largest cities are in the same boat. A total of 61 of the 75 cities covered in the report are considered ‘sinkhole cities’ that owe more than they have.”