The current constitution places strict limits on the power of the federal government but it is ignored. The courts have indulged the fantasy that there are two clauses which say in effect, “Do whatever you damned well please, we spent all that time writing this document just for show, feel free to trample it into the dirt and disregard it.” If they don’t find permission in the welfare clause or the interstate commerce clause they find it in a “penumbra” or some other nonsense, they are not above saying that left is really right, up is down, freedom is slavery, war is peace etc. They claim the “right of privacy” forbids laws against abortion even though nowhere in the constitution is a right to privacy mentioned in any way, shape or form. Then they turn around and say in other decisions that you have NO RIGHT OF PRIVACY.
If we held a ConCon and voted to return to the original Articles of Confederation (as if that would ever happen) it would mean nothing as long as we have corrupt lawyers interpreting the law. Before the ink was dry they would be claiming that the federal government has the power to do whatever a bunch of damned fools can think up.
If you are looking for the word "privacy," you're righ. If you are looking for the concept of privacy, tthere are several places.
The Supreme Court has ruled that the 3rd amendment is an implied right to privacy in one's home by virtue of prohibiting the quartering of soldiers (government agents) during peacetime. This has become more relevant today from discussions that Obamacare and OSHA give the government the right to inspect your home at any time for health and safety reasons.
And, of course, the 4th amendment is about being secure in one's person and documents, meaning that the government can't search without a warrant based on probable cause and a description of what and where to search.
The 5th amendment protection from self-incrimination and presumption of innocence is a form of privacy in that the government must find evidence of your guilt without storm-trooping into your home to do it.
-PJ