Only if we won't let it be. Sure, there will always be some tradeoffs, but the current model sure as hell does not maximize privacy and security. If we are going to move towards a decrease in privacy, someone better be showing some pretty convincing data that these actions actually result in increased security. Do you feel like TSA has brought us increased security?
How do you show proof for things that did not happen?
One could say that there hasn't been a terrorist attack on US soil by a foreigner for 13 years, does that mean all the measures we have taken worked? Does it mean they were necessary?
You can't expect to be safe from a group whose members are scattered all over the world, who gets new members/recruits all the time and who communicates via various methods including cellular and through the Internet without allowing the government to monitor their communication methods.
And because these terrorist groups don't consist of a particular population of people (as in located in the same area) and because their members come from a wide spectrum of people (financially, socially, speaking) you can't expect the government to be able to limit the scope of their dragnet.
So again, the question is; are you willing to give up freedoms for security? You can add stipulations, what if's, buts, and ands but the core question/issue remains.