If it is a profitable industry, then it belongs in the private sector and not in the government's hands. There are industries the government monopolizes that could be lent over to the private sector. There are also areas where the government is just wasteful with its spending.
I live in Calfornia where the tax-and-spend Democrats have pwned the State into oblivion. The Sacramento politicians need to learn to spend within a budget, just like all of the common people do. It seems that whenever they don't have enough money to fund their social programs or pork barrel projects, they look for ways to increase taxes other than finding ways to cut spending.
I'm not completely anti-tax, don't get me wrong, but California has one of the highest sales tax rate in the country... and the highest cost of living in the country. We're in ecomonic Hell because of failed tax-and-spend policies.