Password bill

It appears that there is a bill in Congress that will allow potential employers to ask applicants for their facebook passwords. WTF?!?

First off, why in the blue hell is there even a bill that will allow this?

Second, is there no such thing as privacy, anymore? I mean, if you tell someone "Happy Birthday" and play "Words with Friends" on Facebook, it shouldn't hinder you getting a job!

Also, if you don't give your password to the potential employer does that automatically disqualify you, kind of like if you don't give out your credit history and what not?

I seriously wonder what this world is coming to!

What makes it even worse is that employers are totally in their rights to do this, since the FCC has no rules/laws regarding social media. However, one would think they'd have some kind of ethical issue with asking for people's passwords. Don't you agree?

So, what do you think about all of this? Would you give an employer your password? Why or why not?