I'm not going to comment on what's true or what's not, but I know a few things:
1. Having been "in the news" or when I've had firsthand knowledge of an event in the news, I'm always shocked by how inaccurate the news is. Usually not in broad strokes, but in lots of details. I have learned to take everything I read in the media with a healthy grain of salt. I'm not dissing journalists here, but that's what they are: journalists. They are not tech experts. What we are reading could very well be inaccurate. We've not vetted their source either. At least Google is known entity.
2. This whole "we scan everything" business just seems farfetched. That's a lot of data to just double.
3. This program has been subject to oversight. I haven't lost that much faith in my elected officials, or government employees for that matter.