1) Slice onions and add to a large skillet over low heat with butter. Season onions with a pinch of salt and let cook for 10 minutes until they start to brown slightly.
2) Continue to cook onions for the next 20-25 minutes, stirring occasionally, until they are shriveled and starting to turn very brown. It’s okay if the onions are un-even at this point.
3) Add sugar and water to the skillet and stir to combine. Onions should turn an even, dark tan color. Cook until water is evaporated and then turn off heat.
4) Let onions cool and then stir into cream cheese along with Worcestershire sauce, garlic powder, cayenne powder and a pinch of salt. Stir together well.
Serve spread over toasted bagels with fresh scallions! Store extra spread in the fridge for 7-10 days in an airtight container.