As a grad student I was, for the most part, shielded from issues like high-level bureaucracy, departmental duties and politics, and long-term career advancement. Obviously these things become more important when you're looking for a faculty job.
Question: As a faculty member in the U.S., what are the most tangible differences between being at a public vs. private university?
I.e., how does it affect your day-to-day life, or alternatively, key events like promotion, student recruiting, etc.? Obviously the question depends a great deal on the particular department and perhaps its ranking; I am interested mostly in departments "near the top" [ed: of some fairly arbitrary ranking systems...], but broad answers are also useful.