as far as regions go, the war issue covers multiple 'regions'. Americans are a strong, proud and just people. We are currently seen as leaders in the 'free' world, however you can only lead where people will follow, and the rest of the world (friends enemies and in between) aren't exactly sheep.
I do think we will eventually withdraw from Iraq (3-5 years is my guess), the rest of the world will not allow us to take oil at the end of a gun (fact is we wouldn't allow it), so the point occurs where our presence is counter to our interests. We will always have some presence in the region, but ground troops won't be the large part of that presence.
I think we may return to a draft, but the military curently is opposed. It won't be 'highly selective' if what you mean is drafting folks with certain skills or education, never hold up legally. We are above all else a nation of laws.
