Pros
Job stability is like nothing in the private sector. Wages are on the low end of market, but salary increases are steady and predictable. Tremendous range of technologies to gain experience in, if you are in IT. Flexible work hours and telecommuting are big focuses, even if telecommuting is somewhat frowned upon if you dare use it.
Cons
Dis-respectful co-workers - example, meetings get cancelled, and the organizer doesn't bother cancelling, or even turning up. So much for the giant "respect" banner hanging up in the cafeteria. Takes approximately a year to get any IT projects done. Virtually no disciplinary action for employees who screw up, they just shrug and carry on, no matter what the foul up is - including with paychecks. Unhelpful staff with tribal knowledge. Health care insurance requires you to haggle to get treatment, otherwise it's denied, almost by default. Vacation accrues at a snails pace, and managers have no discretion over it. If you haven't accrued it, you can't take it. Noticeable entitlement mentality, people who simply don't deliver, or even try, think they are top dog based on longevity. Massive application sprawl means that trying to follow process means multiple, incompatible applications required, for no apparent reason. Also leads to amazing amounts of downtime. Weak or no leadership present. Silos and turf wars that show that there is not much unity.