This is all fine and dandy. Make sure US companies encryption products have an extra front door. This can probably even be made reasonably secure by use of a gov' public key to add an extra header to all encrypted data from said products.
But how exactly are you going to make Open Source products comply with these regulations. All it will do internationally is make US encryption products unpalatable to anyone who guards their privacy weather they be criminal or not. Perhaps via international treaty, the US could like it has with copyright, force nations to criminalize large portions of their populace.
You know, I say go ahead, we all know where this ends and the vox-populi is not something Mr Director you would want to be lined up against the wall to answer.
"When government fears the people, there is liberty. When the people fear the government, there is tyranny." - Thomas Jefferson