This is really bad.
Senator Chuck Hagel said that the situation in Iraq is so bad that we should bring back the draft, according to this story. (It's not clear whether he thinks we should consider bringing it back or is arguing for it, but the distinction doesn't matter -- the draft is in the air).
If we really want to engage in some shared sacrifice, how about a John Anderson-style 50 cents per gallon tax on gasoline? John Anderson would have lowered the payroll tax with the money raised from the gas tax, but while we're in deficit spending, we could use that money to finance the war in Iraq (and when it's over, lower the payroll tax, and re-raise the highest federal income tax rate from 35% (current) to 39.6% (1993-2001)).