In essence, Mr. Bush is making a huge gamble — critics say a dangerous one — that the United States can control proliferation by single-handedly rewarding nuclear states it considers "responsible," and punishing those it declares irresponsible. For those keeping a scorecard, India is in the first camp, Iran is in the second, and no one in the administration wants to talk, at least on the record, about Israel or Pakistan — two allies that have embraced the bomb, but not the treaty.
Sanger has a good breakdown on the massive can of worms Bush has opened here.
As an aside (well, not really), the voting is open for the Koufax Awards, where Newshog is a nominee in the "Most Deserving Of Wider Recognition" category and has no chance of winning (Since enough people have to actually read your blog AND like it enough to vote for it). However, you can cast your vote for many other non-limousine bloggers in other categories too.