Should the Prez Control the Web?

The Cybersecurity Act of 2009, now wending its way through Congress, would hand the White House unprecedented control over the web. Among other provisions, this bill would give the President a kill switch to shut down federal and "critical infrastructure" networks in the event of a national emergency.

The "critical infrastructure" mentioned in this bill, as I understand it, includes private industries such as banking and telecommunications. If the bill passes, the President will have the authority to throw the switch on their networks if he deems it in the "interest of national security."

Here is an example of the language that has privacy rights advocates and some in the business community concerned:

The President ... may declare a cybersecurity emergency and order the limitation or shutdown of Internet traffic to and from any compromised Federal Government or United States critical infrastructure information system or network;

The President ... may order the disconnection of any Federal Government or United States critical infrastructure information systems or networks in the interest of national security;

What do you think? Is this kind of government intervention a necessary part of living in a dangerous, complicated world? Or does a bill like this just make our world more dangerous and complicated?