Did I Miss Something?

[Recycled from 17 September 2004]

It seems to me that nuclear weapons (and other WMD) are

1) of least value to a country that has overwhelming superiority in conventional military forces

2) of some possible value as a deterrent to a country that is in a vulnerable position relative to powerful neighbors

but

3) of most value to terrorists?

So isn't it maybe just a tad unwise for the government of the United States to be encouraging an arms race among the second class of military powers? And to be proposing to build "bunker busters", nuclear bombs so small and convenient that even the most inept terrorists will be able to steal them?

Or am I missing something?