So will there be a Coast Guard for space? (Tip to Instapundit)
I still think space is a natural mission for the Air Force to assume--and not for a separate service to be cut out of the Air Force.
The Air Force is losing missions (as it should) as ground forces exploit UAVs and precision weapons to carry out reconaissance and strike missions once performed by the Air Force. But by refusing to go to space where there are new missions evolving, the Air Force loses an opportunity to pick up those missions.
Some organization will carry out the space missions. The Air Force is running out of missions and time to be that organization.