Have you worked both the public and private sector? Which do you prefer?

How does the private side compare to public sector work? At the moment, I work for a County and it's great for now b/c it's low stress, easy workloads, and plenty of goofing off. However, it's also low pay, a coworker with equal experience just left for private and is getting paid double; plenty of unmotivated coworkers; and the ';sit and wait for retirement'; atmosphere.