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“Me personally, if I can pay $10 million per year in pay as you go, why would I not do that? Why would I choose to put away $35 [million]? It won’t save you money in the long run,” he said. D’Amico argued that the long-term OPEB costs should be viewed similarly to a mortgage assessment, where the overall cost of something looks overwhelmingly large, but is manageable in monthly installments over a long period of time.

This head scratcher proves that Warwick is getting zero benefit from its so-called "financial adviser," Mr. D'Amico.

The failure to put aside money each year into an OPEB trust fund will assure that the daunting future OPEB costs will come down in one fell swoop, hitting the city with an "overwhelmingly large" obligation, to use his own phrase. How does one afford a down payment on a house purchase, the ability to retire, to cover the cost of a child's college education? Very simple: you start saving early on so that you have funds to draw on when the expenses come due. Mr. D"Amico seems to take a bury one's head in the sand, "what me worry" attitude to the whole issue. I pity the citizens of Warwick (especially their children and grandchildren, who will face the bills) if the city follows the quackish financial advice of Mr. D'Amico.