The government should stay out of the Internet. The whole purpose of the government is to defend its citizens from internal and external threats; not to control all aspects of society. As American citizens, we have all seen the government at work. I ask you this: how many times has the government taking over a service caused it to become better or more efficient? NEVER!
On a different note; the President (and the government in general) have taken a large amount of interest in the economy and trying to keep it afloat. The affects of their intervention are debated by many, but I am NOT saying this to get into a discussion/argument about that. The reason I am bringing this point up is that when the government intervened, it caused the national debt to skyrocket. We are in massive amounts of debt right now; if the government starts regulating or takes over the Internet, that will result in more money being spent that we just don't have. We cannot afford to have the government control the Internet.
PS: The reason this is in the Open Internet and the Freedom of Speech category is that I couldn't find a category that fit. This one has the most responses, so I put this here.