Given the fact that Bin Laden and radical Islamists seek the overthrow of secularist regimes like Saddam's, why would Saddam given them such potent weapons? Would he not be afraid that they would use them on him?
I beg to differ, but let's assume Iraq would. It is at least as likely, and I believe more so, that North Korea, Pakistan, and the Muslim Slavic nations ringing the south of Russia would provide this material too. It's also just as likely any of this stuff could be cooked up by some wildcat group in Sudan, Somalia, Algeria, or even in various European and North American cities. In fact, assuming you bomb Iraq into the Stone Age, I guarantee you that terrorist groups will find another source.
Unless you plan on raising taxes, floating more debt, and reinstating the draft to finance the next Hundred Years War, you'll need a different plan other than to bomb one of the few secular Muslim regimes in the Middle East.