Obama saying on national TV "we only target foreign entities [without a warrant]" is enough irreparable damage to the US internet industry.
No non-US entity is ever going to give high-value confidential data to Google, GMail users, Android phones, AWS, companies hosted on AWS, Apple, iPhones, or Skype ever again.
Even if NSA swears up and down that they've stopped spying, how could we ever know if they're lying? (We already know they're more than willing to lie under oath.)