What utter bullcrap.
You are absolutely right. People use the internet for high-value transactions *already.* And of course this has the potential to make Americans LESS secure. Having a single, government-controlled access point for information on Americans' internet transactions across databases means that a breach would be devastating. That is why people who know tech are already screaming about this.
But even if this system *did* make our financial transactions more secure, that benefit would still need to be considered against the threat to our privacy and liberty.
No, we do NOT need a massive new government system that lays the infrastructure a government would need to supervise, regulate, track, and control our individual access to the internet.
The spin that all of this is for our protection is about as convincing as the ongoing attempts to justify the tracking of Americans' internet use by citing concerns about "child porn." (http://www.democraticunderground.com/1002197126). It reeks.
We are already fighting SOPA, PIPA, ACTA, militarization of police departments, and identification of those who protest and those who seek anonymity on the internet as potential terrorists. Now this. They are quietly starting pilot programs, as though the people they are supposed to represent have nothing to say about this. We need to oppose this now, or it will soon be too late.
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Get the money out of our government. Occupy now, because they are putting structures in place to prevent occupation later.