Well, before y'all get your panties in a wad and freak out over this, do a little research first. I'll help you:
Contrary to the e-mail quoted above, the bill would not require applicants to "submit to a physical and mental evaluation at any time of their choosing"; applicants would have to authorize the release of any existing mental health records.
Also, the right of inspection to ascertain compliance with the law would apply to "any place in which firearms or firearm products are manufactured, stored, or held, for distribution in commerce," not to ordinary households.
The fact that the bill does not have even a single co-sponsor makes it unlikely that it will ever be brought to a vote before Congress, much less passed. The lack of a co-sponsor is an indication of a lack of enthusiasm for it among other congressmen. They feel it is too far-reaching and repressive of gun owners' rights to merit serious consideration by a majority of Congress.
Obama has absolutely nothing to do with this bill. It was introduced by U. S. Rep. Bobby Rush, IL in 2007 during the Bush years. It failed and he's trying again now.
So it's another worthless bill proposed by an overzealous politician in an effort to make his constituents feel like he's doing something.
Fo-gheta-bout-it and get back to fishing!