So, from a private sector person's perspective, GOOD!!!!!!!! And BTW, what WAS your point?
You are assuming that all Federal employees make measurably more for their jobs that those in the private sector. Many do and many don't. If your company comes out and tells you that management has been screwing the pooch and in order to stop the illicit "sex", they decided to cut your wages while leaving their wages the same or higher, I have to suppose you would be all for it - even if you happened to be one of those who gave extra hours on a regular basis and worked his butt off to do his job.