Blacklist bill, Protect IP act, SOPA. What exactly is going on?

UPDATE:

Full Bill Summary added!

6597610 censored stamp Summary of whats going on with the internet right now, Protect IP gadgetzz
There is a big hype on the internet about the US government trying to censor, or even shut down sites with user generated content. Eg, Twitter, Facebook, Reddit, and even Gadgetzz would have to turn commenting off.

Risk of Jail for Ordinary Users

It becomes a felony with a potential 5 year sentence to stream a copyrighted work that would cost more than $2,500 to license, even if you are a totally noncommercial user, e.g. singing a pop song on Facebook.

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