Tin foil hat folks are usually indeed crazy.
Kinda torn on this issue. Debating the ethics and balance between privacy and security (which I dont fully buy) aside, from a legality standpoint it sounds as if Congress authorized this and thus it is law. Not many people are aware, but in the 80s when cell phones first began becoming relevant it was determined by the courts that, because the signal is bounced off of towers and not through an actual phone line (on your property), conversations on cell phones came with no reasonable expectation of privacy.
In the eyes of the law, the government tapping into your cell phone signal is no different than a Fed overhearing you talk at the next table in a restaurant. Perhaps that will change due to the public interest in this issue.