If the GS job is in the city you want to live in, that'd be a huge plus for me. It would also have to be reasonably interesting work. Historically, the GS job probably had more job security, but thats not necessarily the case anymore. That's what has attracted a lot of people to it...less risk, but that can also mean less potential reward.

Do you have a job offer for either/both? Do you have a desire to be an Airline pilot? If not, I'll tell you just my experience. I do have a desire to be an airline pilot and I'm pretty burned out on all of the work and money I've put in to this job search. I'm also dreading first year pay, though we have some plans to help mitigate it.

I look at it this way (by the way I don't have a job yet so take my advice through a filter). There is an opportunity to get on at the front of a wave. If you don't like it or get furloughed or whatever you can always look at other options (like a GS job). If you go with the GS job and change your mind you'd be much farther down a seniority list if hired at an airline, and they might not be hiring anymore when you do change your mind.

The other thing for me, and this is just me, I really don't like the idea of working for the government. I do it now in the Air Force but I have no desire to do so as a civilian.