From the "could it get any worse" department, more doom and gloom as reported by the Washingtonpost.com:
This is very bad news; the intellectual property laws in this country continue to be severely skewed in favor of a small irrelevant industry at the expense of the far greater good. While unpaid downloading of copyrighted entertainment works is clearly an evil; taking the kinds of punitive approaches to the problem that these idiots favor contain unexpected side-effects that do nothing but make America less competitive and provide an opening for other countries to eat our lunch. A regime that childishly suppresses the free flow of ideas cannot sustain a world leadership position.
In a nutshell - punitive draconian copyright and patent laws == some other country invents fusion, cures aids, lands on mars, ...
If you don't understand why these are obvious consequences, you need to do some reading
and more reading