I'm not a fan, but I'm also not very well versed on what all is in the bill. Pretty sure that it'll be used as a way to fuck people like you and me over, though, since that's always what's going on.
The bill says that if the government looks at you and says "That is one suspicious looking individual", they can call up Google, or Facebook, or anywhere else and say, "Give me all the information you have on Valor". And under CISPA, they have to say, "Okay."
That's it. The government wants to know anything about you, where you live, your emails, what kind of porn you like viewing, all they have to do is ask.
Short answer, yes. It is a violation of our rights.
Obama said awhile ago that he would veto it if it made it to his desk, but I wouldn't hold my breath. He said he'd veto another bill. I can't remember the exact name, but yeah. If he says it, there's a good chance, but it's not a certainty.
"There are many types of monsters in this world, monsters who will not show themselves and who cause trouble. Monsters who abduct children, monsters who devour dreams, monsters who suck blood, and, monsters who always tell lies. Lying monsters are a real nuisance, they are much more cunning than other monsters. They pose as humans, even though they have no understanding of the human heart. They eat, even though they've never experienced hunger. They study even though the have no interest in academics. They seek friendship even though they do not know how to love. If I were to encounter such a monster, I would likely be eaten by it, because in truth, I am that monster."