When Google’s Eric Schmidt called White House officials a few weeks ago to oppose President Obama’s demand that the Internet be regulated as a utility, they told him to buzz off. The chairman of the company that led lobbying for “net neutrality” learned the Obama plan made in its name instead micromanages the Internet.

Mr. Schmidt is not the only liberal mugged by the reality of Obamanet, approved on party lines last week by the Federal Communications Commission. The 300-plus pages of regulations remain secret, but as details...