Personally, I think our manned space program should fall under the administration of the Air Force (this would include missions to the Moon, and perhaps Mars, as there would be military advantage to have a moon base). Deep space exploration and scientific telescopes should be funded by the international scientific community.
Not to mention that idiotic "Space Treaty" which we foolishly signed off on. "Common good of all Mankind" my left foot. Very few folks in this group called "mankind" has anyone else's "common good" on their minds. Especially when it comes to keeping the rest of us under control.
Ask yourself this, would a Privately run venture really pay thousands for a toilet seats or hundreds for a standard hammer? How about spending a couple billion on an orbital tinker-toy set with no real economic focus?
Privatize it. We'll have hotels on the Moon within a decade.