If you believe the director of the Office of Management and Budget, Peter R. Orszag, yes. Here is his reasoning.
I will only say that my Father and two Brothers were Federal Civil Servants, serving back in the day when they were paid less than their private sector equivalents. But then my Father had a High School education and my two Brothers, who benefit from the new pay scales each had Masters Degrees when they began working.
There is that theory out there, pushed by Gerry Nutter, that it takes five folks in the private sector to pay for one civil servant. On a side note, earlier this week someone told me the concept of "Civil Servant" is out and the replacement is "Public Employee". Maybe.
Regards — Cliff