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Privatization, also spelled privatisation, may have several meanings. Primarily, it is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector (a government) to the private sector, either to a business that operate for a profit or to a non-profit organization. It may also mean government outsourcing of services or functions to private firms, e.g. revenue collection, law enforcement, and prison management.[1]
Privatization has also been used to describe two unrelated transactions. The first is the buying of all outstanding shares of a publicly traded company by a single entity, taking the company private. This is often described as private equity. The second is a demutualization of a mutual organization or cooperative to form a joint stock company.[2] http://en.wikipedia.org/wiki/Privatization

Privitiazation in the United States, means that many of our citizens will suffer needlessly.  For example if social security were privitazed, as x-president had pushed and proposed,  people would loose their benefits, and since they are trying to survive day to day, they would not pay into a privitized system.   We would see more people on the streets asking for money to buy a cup of coffee or whatever.  Privitization would be a good idea if everybody had a job and good  benefits and were halfwas stable financially.  That is not the case right now in our great United States. We still have 12 million unemployed and that many with half of their teeth in their mouths.  We have to start looking out for all of our U.S citizens.  Please look for 'truth seekers'.  which is not most of the republican party.  Please become a citizen with knowledge without bias and one that buys into propaganda exercised by the media, which is owned by 3 people.  We few open minded people have to save the many that are blind that are led by the greedy!!!