A timely NSA + encryption reality check; also see Schneier's How to remain secure against NSA surveillance
"Honestly, I'm skeptical. Whatever the NSA has up its top-secret sleeves, the mathematics of cryptography will still be the most secure part of any encryption system. I worry a lot more about poorly designed cryptographic products, software bugs, bad passwords, companies that collaborate with the NSA to leak all or part of the keys, and insecure computers and networks. Those are where the real vulnerabilities are, and where the NSA spends the bulk of its efforts."How Advanced Is the NSA's Cryptanalysis—And Can We Resist It?