According to John Dimsdale of American Public Media's radio program, Marketplace:

Imagine if the federal minimum wage dropped from $7.25 an hour to $5.50, plus the eligibility age for Social Security jumped to 70. And 450,000 government workers lost their jobs and health benefits over the next three years. That’s close to how the latest Greek cutbacks would feel in this country.

Makes it a bit easier to understand the Greek public reaction.