The wiggle room I'll give the NSA and other "Security" Agencies is enough to make the noose around their neck comfortable, but not enough to take it off completely. What the NSA has done, is created enough wiggle room to take the noose off their necks, and put it on everyone else's necks.
They say they "only" collect Metadata, well isn't that fine and dandy! I'm in the industry, and given enough metadata, you can reconstruct the data you need, and often better detail than it was before. And in the case of Databases, metadata IS the valuable bits needed to form the surveillance state. Since the data being monitored and collected can easily be tied back to a person / group, you've done nothing except remove the data only one step away from being a breach of the 4th Amendment, and nothing else. The same intrusion happens, and you're not fooling anyone, except those that parse words very carefully. Like Clapper's famous "non-lie".