In all seriousness, this system is starting this year but it does not work through the SMS system. It uses a broadcast message technology that only works with some newer phones (so far, select Android phones on Verizon and iPhones starting with iOS 6 this fall). Basically this brings the existing Emergency Alert System to cell phones.
Basically, your local emergency management office can send out local emergency messages and AMBER Alerts, your local National Weather Service office can send out life-threatening weather alerts (tornado, flash flood, tsunami, etc.), and the Executive Branch can do national presidential alerts just like the current national EAS system (which has never been used.)