"We're Not Looking For An Exit Strategy. We're Looking For Victory."

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•If you had to take back any one thing you've said about Iraq, what would it be?

I thought that the elections that we went through in '05 would have had a bigger impact on the level of violence than they have, I guess. I expressed the sentiment some time ago that I thought we were over the hump in terms of violence. I think that was premature.

•Do you think we'll have a military draft in your lifetime?

I don't believe so. I'm a great believer in the all-volunteer force. It produces a very, very high-caliber military. People are serving because they want to serve. We preserve the Selective Service system in the event there were to be some catastrophic conflict that would require putting [nearly] 20 million people in uniform like we did in World War II, but I don't foresee at this stage the likelihood of that.

•Now that you're a wartime Vice President, do you regret not having served in the military?

No. I don't go back and look at those decisions. I've spent a lot of time over the years on these issues. But I'm 65. I'd like to go back and do it all over again, but I made the choices I made.

•In light of the North Korean tests, is the Nuclear Nonproliferation Treaty [NPT] system in trouble?

So far, I would say I've been generally pleased with the way in which the international community has come together in the last week or two after the test by North Korea. The Chinese have been vital in that process, and I think they've undergone a significant transformation in terms of how they look at the problem. The ultimate test, though, will be whether or not we can complete the task of the denuclearization, if you will, of the Korean peninsula and also get the Iranians to come into compliance with their obligations under the NPT and give up their aspirations to build nuclear weapons.

•Why not run for President? You're younger than John McCain.

I've got a lot of miles on me. [Laughs.]

•What do you think you and Mrs. Cheney will do after you leave office?

I don't have any idea. I'll be 68. I still have a few good years left, and I expect we'll spend time with family. Still got a lot of rivers I haven't fished.

To read the full interview with the Vice President, go to time.com/cheney