They already have a wealth of responses to the privacy arguments, except what I see as the biggest one - trusting your government. I don't trust them whether bush or clinton are in, but they are a big driving force behind this. And with all the new buzz about security - well biometrics being used as the only source of being able to do business would solve that for the most part.
You can download the PDF from this site: http://www.itl.nist.gov/div895/pubs.html Should be first paragraph on right side. It is about 700 pages and full of fascinating information from the conference. Well worth the read.