So according to wired.com "A research arm of the intelligence community wants to sweep up public data on everything from Twitter to public webcams in the hopes of predicting the future."
The project is part of Iarpa a spy wing in the Department of Defense which is supposed to investigate new technologies and the sole purpose of Iarpa is to sweep through publicly available information to predict "significant societal events, like a popular revolution." Similar to what is going on in with the "Arab Spring" revolutions going on in the Middle-East. Where a large portions of these revolutions have been organized through the internet and social media. Iarpa claims it will not use this program on the United States but that remains to be seen. This is definitely some spooky big brother shit to me.