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Losing a satellite to an accidental on-orbit collision is no longer hypothetical, but real and increasingly likely. As a result, the need for global space-traffic control must be addressed by the space-faring nations, especially the United States. The fiscal and national security ramifications are too significant to ignore. The replacement cost of a satellite, perhaps hundreds of millions of dollars, is the most obvious impact. But, this may be the most trivial consideration. The greatest concern is the potential catastrophic loss of vital communications, navigation, weather, and other services we depend on for daily global commerce and defense. As a matter of national prestige, leadership and security, the US Government should endeavor to establish an international institution to govern global space traffic. As in 1944, the United States should convene a similar international conference with the purpose to establish such a service like the ICAO.