The Falcon Hypersonic Technology Vehicle program is exploring high-speed air vehicles designed for rapid, around-the-world reach. Project goals are to develop hypersonic technology for a glided or powered system, as well as advance small, low cost, and responsive launch vehicles.
A Falcon Hypersonic Test Vehicle-1 (HTV-1) is now on the books for a less than one-hour flight in September 2007. Attaining Mach 19 (19 times the speed of sound), the glided air vehicle will briefly exit the Earth's atmosphere and reenter flying between 19 and 28 miles above the Earth's surface. This inaugural voyage of HTV-1 would end in the Pacific Ocean.
This is pretty cool. The ability to fly from America around the globe at high speed and unload a lethal payload on our enemy is a tremendous military capability. And will scare the kung pao out of Peking, no doubt.
But just remember it is of little importance to fighting the fanatic wiring up an IED with a garage door opener in his basement. Never lose sight of the fact that to beat the enemy's low tech gizmos we need sufficient numbers of well-trained killers kicking down doors and shooting our enemies five yards away.
UPDATE: Ralph Peters rightly notes that we can't rely on technology alone. Fanatics mess up the cold calculations we are comfortable making. However, his discussion of war with China and how we could not wage total war against them misses the point. Absent an Army sized to 1945 standards, there is no way to wage full non-nuclear war against China. We should not use that as the standard. Surely, have enough depth to fight protracted regional wars on the periphery in restricted areas (Korea, Taiwan, Japan, Vietnam), but don't think we could prepare for or afford to prepare for general war. And remember, China is in even less of a position to fight a wide war against America and our allies even off their own shores.