A little more from the article:

Transportation officials say a contractor will be picked soon to build the nationwide computer system, which will check such things as credit reports and bank account activity and compare passenger names with those on government watch lists.

They will automatically punch your name in when you check in, apparently. Your boarding pass will be coded and you will be rate green, yellow, or red. Their security people will check people's boarding passes at certain points.

More chlling, to me, is the info gathered will be held by the government. It has been stated for 50 years, however they are denying that.

This is going way to far. I remember being pissed in the 80's when we did everything by cash and we had to prove to the airline where we got the cash to buy our tickets! That was bad enough!