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My spouse works a government job and here's some insight we've noticed. Definitely the biggest con of a government job is the bureaucracy. A task that would take a day in a corporate setting takes a week on average here. Everything they do is so damn slow and it is very difficult to get ahold of people. Also, you may end up in a location or job series where there is little to no room for upward advancement, so if you want that, be sure to ask in the interview phase about those opportunities. You may have to move to get the opportunities you want and those come at your own expense about 90% of the time. Also, the flexibility isn't as good during the day, and in the beginning the vacation accrual sucks (8 hours per month in federal for the first 3 years of service, typically).
On the plus side, the stability is great, the pay increases are fine, the health benefits are very good. If you can last the 20 years, the pension is still pretty damn good. It really comes down to what you want in life.