Comment By the numbers (Score 5, Informative) 569
I really wish that newspapers would cite their information so we could understand what they're basing their claims on.
Looking at the US government's Bureau of Economic Analysis Numbers, they seem to paint a very different picture than what he suggests:
http://www.bea.gov/industry/gpotables/gpo_action.cfm?anon=343982&table_id=24753&format_type=0 [bea.gov]
The line for Motion picture and sound recording industries has been constant from 2003-2007 (with information from 2008 still not entered) at 0.3%.
Bono claims, "music, film, TV and video games help to account for nearly 4 percent of gross domestic product". Assuming no tectonic shift in profits, that would suggest that video games are producing nearly 3.7% of GDP, but the line for all Publishing industries (includes software) floats at around 1% of GDP. So even including "real" software like Windows as well as books, we're not even close to 4%.
Another factor which he neglects to consider is the scale of damage that would be done, both in terms of freedoms as well as innovation. Even if America and all of its best buddies were to enact this type of draconian censorship regime he advocates, I doubt that America's enemies would be as eager to join in. That would suggest a net effect of simply forcing innovation to move abroad to places that don't sign on or enforce. One of the few areas where America is truly a global leader still seems to be in Internet services. If foreign Internet services provide more to consumers that they want than American services, I don't doubt that American services on the Internet would be abandoned in a flash. While I don't discount the importance of the export of America's pop culture abroad, the price to protect outdated business models seems like a weighty one. Bono talks a lot, but I wonder how much depth he really puts into his thinking.