Im not really joking, their ability to do anything efficiently or correctly for a reasonable sum of money is embarrassing. I know it's a joke as well, but it's funny because it's true.
My experience is the opposite. Private companies seem completely inefficient compared to government, and I've worked as engineers in both.
Really it is only a right-wing profit-driven talking point to say government is inefficient, mostly to protect against their profits that government takes away.
The numbers support my case. You can send a mail with the USPS for 50 cents anywhere in the country, but it costs $5-$10 to do the same with UPS or FedEx.
Literally 10x-20x costlier.
Government just doesn't have to waste money on things like profit or marketing that private companies need to do.
Now, you can see crazy waste on both sides EX: Drug Advertising. But, it's hard to look at this objectively.