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I think people forget that the role of government is to prepare for as many eventualities as possible. Just like Bush and Company aren't necessarily preparing to cancel the Presidential election, I don't believe they are preparing to institute the draft.
Our military is obviously stretched substantially at this point. And before everyone starts blaming Bush, you only have to look back at the goals over the last dozen or more years which laid out only needing the capability to carry out wars on two fronts as the cause. The military has been cut substantially and, while technology has made it easier/safer/faster to wage war, it has not eliminated the fact that it's substantial human presence which ends them.
Anyway, my feeling is that parts of these rumors are the political maneuverings of people like Chuck Rangel while others are being generated by the preparations required to address "what if" scenarios.
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Strive to be more curious than ignorant.
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