Although I seriously doubt this story, nationalizing ANYTHING is a very, very bad idea. The US Government hasn’t been all that successful in its cyber-security endeavors; witness the multiple huge data breaches that have been reported in the media and consider the fact that not all of them have been acknowledged.
As I often tell people, “Government is what you do instead of common sense.”
I totally agree. I'm all for more secure networks but putting the government in charge of it will only guarantee the exact opposite will occur. The best thing they could do is require vital network infrastructure be constructed in the US under independent private review. Have the industry create a kind of Underwriters Lab for hardware and software security and best practices.