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From Slashdot's summary
President Obama has issued a new executive order: 'Assignment of National Security and Emergency Preparedness Communications Functions.' EPIC reports: 'The Executive Order grants new powers to the Department of Homeland Security, including the ability to collect certain public communications information.
The Secretary of Homeland Security shall: … satisfy priority communications requirements through the use of commercial, Government, and privately owned communications resources, when appropriate.
In the case of a kill switch, it would require some 8,000 US ISPs (yes, there are that many) to comply with the President, or to attach their core infrastructure to a remotely-accessible power switch. The other option, of course, would be for the ISPs to install a physical switch at the White House, where, in case of emergency or crisis, the President could shut down the internet by gleefully mashing dozens of buttons at a time with his big hands.