I have a government job. Like Zero Dark Thirty said, the perks to government work are in the benefits, not the pay. I have worked in the private sector, and definitely prefer the stress level in government work in comparison. While our health care policies continue to rise in cost and decrease in quality, the main appeal is my retirement package. I can retire at 53 and draw full benefits. I will probably enter private practice again, at least part-time, after that.
It boils down to what you want. Government tends to be more lax with worse pay. Private business is more stressful, with better pay. We will see how my profession changes though with MLTSS changes in Medicaid/Medicare. That may change the stress level.