Bloomberg in NYC is just one of many examples of leaders who are doing big cram-downs on salaries and benefits Herbert Hoover-style. Cut wages, cut benefits, make the Great Recession worse. Let the state governments imitate the auto industry so we can all be Michigan.
Or the world, for that matter, where 1.8 billion people work informally, with no benefits or protections whatsoever.
Not much cram-down potential there.