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Daydreambeliever I need for you to confirm this statement. "Not ALL city employees receive free healthcare for life. Anyone prior to 2000-2001 doesn't get this".

Are you saying the bulk of the hundreds of millions of dollars in unfunded retiree healthcare occurred within the last 20 years?

If that is true, as more new employees get hired into the system under these same or marginally reduced benefits, what is the liability going to grow to in the next 5 to 10 more years? And more important how much larger will the minimum required annual payments grow to?

also I would like DiMico to use a better analogy then the mortgage payment where annual payments reduce the principal each year. That is not what is occurring in Warwick.

What would he say if after the home owner made thousands of dollars in payments each year, that the mortgage principal continued to increased each year by thousands of dollars?

That's the correct analogy to equate to what is happening in Warwick.

Under this scenario, that home owner is going to have to pay higher and higher annual mortgage payments while sinking deeper and deeper into debt. As he makes these payments, all other areas that need revenue, for example the leaky roof or the 20 year old car, or college funds for his kids, will not be funded since he wii have little to no disposal income left to meet these needs.

The homeowner at some point in the near future will be overwhelmed in spiraling debt payments (fiscal crisis) to a point he will have to declare bankruptcy and restructure the debt resulting in many creditors (retired and active employees taking a sever hair cut in future benefit payments) being paid pennies on the dollar.