The government has long been accused of not focusing enough attention on computer and network security within government and military agencies. Many agencies get poor or even failing grades for computer security in the annual GAO (Government Accounting Office) computer security report card. At face value, any attempt by the government to provide for stronger standards and more secure computer networks seems like a good thing.
There is one aspect of this bill which is a bit more controversial though. The bill contains wording which would provide power to the President of the United States to respond in the interest of national security if there were an attack on components of the critical infrastructure. The authority would include the power to order the shutdown of the Internet.
Now, I can imagine some scenarios where there might be some sense in that- but they are rare and highly improbable. That being the case, it seems a bit over-reaching to provide that sort of power to any President. I happen to trust Obama, but someday he won't be President and we could have a President with less scruples who might take advantage of a power like that.
I am sure there are some who fear that power even in Obama's hands. I do understand the need to protect the critical infrastructure and the potential need to respond in the event of a cyber attack, but I think this power exceeds the authority that the government should have to disable such a critical information pipeline that the citizens rely on- including a primary source of information for keeping an eye on the government.