It would be a herculean task getting that through the House. It has zero chance of passing. Also: Lieberman has just emasculated himself early in the 112th Congress by announcing he is a lame duck.
It would be a herculean task for each ISP to keep track of everything that everyone of their customers does on-line.
Are they going to keep track of every site we visit? How long we visit? What the site looked like when we visited it? What we downloaded? The actual files we download (and not just the file name)?
If criminals are encrypting data within downloaded movie files, for example, then must the ISP keep copies of every movie their customers download in order to be able to get at the encrypted data that might be there?
The only reasonable requirement would be to keep track of users on-line history, so once again it will be easy to invade the privacy of innocent citizens while being impossible to prevent criminal activity. The only thing that will be accomplished will be the diminishment of our Constitutional freedoms.
At some point, a future tyrant WILL misuse this information by crunching our internet history with brilliant data mining techniques that already have existed for over a decade.
The next Stalin wannabee will be able to assign an enemies list quotient to all of us serfs. If he is feeling froggy enough or if he has the power, he could order the National Police (we have one) to arrest everybody with a quotient over a certain point on the scale.
Hitler, Stalin and Mao NEVER had a handy tool like that!