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I've done a lot of reading on the smallpox threat. These are my best guesses:

Al-Quada doesn't have it or we'd already have people dying of it.

Saddam Hussein DOES have it.

We have allies and if we have smallpox vaccine and they don't, we can certainly get a lot of diplomatic traction that way. I guarantee you this: the Third World is going to shrink dramatically if smallpox is let loose again. Can you imagine anyone with early AIDS fighting off a disease that is 30% fatal in relatively healthy people? No way. Say goodbye to much of Africa, Asia, even China if China doesn't close its borders (and I suspect they would.)

I agree that Saddam Hussein is crazy enough to do it, too--and Israel will be glad to take care of THAT problem from there. Can you say "cope with fallout and smallpox at the same time"? Yet it's not the end of the world. Hole up with your family if smallpox starts hitting, get your vaccine, roll up your sleeves, and be prepared to dig this country back out of the ashes. 'Cuz we'll be in the best position then.