The National Guard is handling the Balkans and the Sinai and will continue to do so plus mobilize and send some more of their enhanced (most ready) brigades to Iraq. The major portions of 2 of them have already gone.
Some keep saying to send the units in Germany. Well, they've either already gone or are on their way. The 2d Infantry Division brigades in Korea are considered operationally deployed; i.e. they are located in their wartime theater and will not be deployed away from there.
Bottom line--the Army is too small. And too many people say we don't have enough money or people to make the Army as big as it needs to be. Well, the Department of the Army has the smallest budget in the DOD. While congress & big corporations love the Air Force and Navy because that is where the pork is, if both those services took a 5% cut in $ & people, the Army could afford 2 more active duty divisions and the net cost to DOD would be zero. Even with those cuts, our Air Force and Navy would both still be by far the biggest in the world. And the U.S. Army would still be 3d or 4th in the world, but much better able to handle its missions.
To win decisively, you must win on the ground, but that is where we are the least strong and there is very clearly an excess of capacity in our Navy and our Air Force. Time to shift the resources to match our strategic needs instead of congress's re-election needs.