This is stupidity on stilts. It will simply make identity theft and identity fraud easier. It will also make it infinitely easier for the government to track us all online - forget "privacy," this is the digital version of the panopticon as dissected by Foucault.
But then, why would anyone expect anything other than a panopticon-like arrangement from the fascists in power? They want to control our health care - our very lives - they want to control whether we can be born - through abortion, which will be "free" under Obastardcare, and most likely coercively enforced eventually - and they want to control our ability to freely express our political views, so this is just part and parcel of their overall attempt to control every aspect of our lives.
A much, much better system is one like the one-time-use numbers some financial institutions offer for their account-holders to use in online transactions.
