Ignore the specific issue. The critical question this raises is this: if, as the administration says, the NSA needs all this data to find terrorists, who gets to say what it's used for or not? Ignore the entire privacy argument. If the executive branch is keeping records on all of this stuff, is it also claiming unique and sole access to it?
Because if they are, anybody with a brain can see the problem. In fact, the partisanship of the Congressman spells it out in clear relief. Just picture that guy as the next president. If you give that much power to the executive and they alone make the decision how to use it, then by definition such information will be used for political purposes. Who gets to decide what is so evil that requires this special, and extra-constitutional, treatment? Everybody doesn't want terrorists, but how about supporting congressional investigations? Helping wrongly-accused people get out of jail? Divorce proceedings? Civil cases?
Are we going to have a system of law and order where certain evidence is presented or not solely depending on the decisions of the executive branch?
What this shows is that this NSA data thing just isn't bad, it's bad on multiple levels. It completely breaks the way our constitutional government is supposed to operate. Even if somehow the political weasels in DC get away with keeping the lid on it, the criminal and Congressional cases alone are going to cause a nightmare. Can you imagine how Congress is going to act if some pet cause of theirs could have been supported by evidence NSA refused to release? How criminal defendants are going to react if, years later, they learn that the government was holding exculpatory information?
And it's just going to go on, and on, until they finally open it all up. Then there'll be a hell-storm.
ADD: And I'm willing to bet 20 bucks that part of the data NSA is collecting is the location tracking information from our cellphones. (accurate to within 50 meters). Can you imagine the number of places in the rest of government operations where such information would be useful?