It's the best place...to END UP.
Pros
Very flexible schedule, great training, "face time" with top execs from Fortune 500 companies, tons of opportunity (if you are VERY patient), smart and hard working co-workers, work is meaningful and impactful, AWESOME PAY!
Cons
Very slow to adapt to what occurring in industry, does not embrace technology, merits are based on seniority (# of years of service), public hates you, very specific area and do not get a broad experience of accounting (if a new grad that's never worked anywhere else), slow advancement and/or the opportunities that would prep you to advance, some jaded co-workers, you are at the beck and call of the taxpayer and politicians, after a while the pay isn't comparable to working in industry for the same amount of time.