The Cold War is over and the Soviet Union is gone. Africa, the South Pacific, and Latin America are nuclear weapon free zones. China is a most favored trading partner. The United States and Russia have dismantled hundreds of nuclear weapons and decommissioned scores of bombers and submarines. There is a myriad of international treaties designed to create a world without threat of nuclear holocaust. So why do states and other actors continue to seek nuclear weapons? Iran is in the media with its thinly veiled efforts to establish itself as a nuclear power. On 6 September 2007, Israel bombed a facility in Syria they believed to be a nuclear threat. North Korea is fattening its international bargaining power with its nuclear program. Pakistan, a nation teetering on the edge of political upheaval, has nuclear missiles. Transnational terrorist organizations relish the thought of acquiring an atomic device. Today's nuclear world is not the one our parent's knew. The purpose of this paper is to assess U.S. nuclear deterrence policy to see how it has evolved and if it is appropriate for today's changed security environment.During the Cold War the United States built an immense nuclear arsenal to deter nuclear war with the Soviet Union; a clear and valid raison d'etre. The Cold War is over; has been over for more than 10 years. The Soviet Union is gone. Our Armed Forces got a medal for it. Africa, the South Pacific, Outer Space, and Latin America are nuclear weapons free zones. Today, we have the Limited Test Ban Treaty, the Comprehensive Test Ban Treaty, an Outer Space Treaty, the Nuclear Non-Proliferation Treaty (NPT), three Strategic Arms Limitation Treaties, the Intermediate-Range Nuclear Forces Treaty, two Strategic Arms Reduction Treaties, and the Anti-Ballistic Missile (ABM) treaty. The convergent thesis of these and other international agreements is a movement to remove nuclear arsenals from the options list of nation-states. The cornerstone of the movement to create a nuclear weapons free world is the Nuclear Non-Proliferation Treaty. The NPT is a universally recognized agreement among 136 nuclear and non-nuclear nations to prevent the expansion of nuclear weapons to non-nuclear states. The days of living under the cloud of "Mutual Assured Destruction" have passed. So what is the purpose of retaining nuclear weapons in this new environment? Why are we investing tax dollars in new nuclear technology and upgrading our weapons stockpile? Where is the peace dividend?