Since Joe can say it better than I can, I figured I'd let him. From his website www.joebiden.com
A Five Point Plan for Iraq
1. Establish One Iraq, with Three Regions
Federalize Iraq in accordance with its constitution by establishing three largely autonomous regions - Shiite, Sunni and Kurd -- with a strong but limited central government in Baghdad
Put the central government in charge of truly common interests: border defense, foreign policy, oil production and revenues
Form regional governments -- Kurd, Sunni and Shiite -- responsible for administering their own regions
2. Share Oil Revenues
Gain agreement for the federal solution from the Sunni Arabs by guaranteeing them 20 percent of all present and future oil revenues -- an amount roughly proportional to their size -- which would make their region economically viable
Empower the central government to set national oil policy and distribute the revenues, which would attract needed foreign investment and reinforce each community's interest in keeping Iraq intact and protecting the oil infrastructure
3. Convene International Conference, Enforce Regional Non-Aggression Pact
Convene with the U.N. a regional security conference where Iraq's neighbors, including Iran, pledge to support Iraq's power sharing agreement and respect Iraq's borders
Engage Iraq's neighbors directly to overcome their suspicions and focus their efforts on stabilizing Iraq, not undermining it
Create a standing Contact Group, to include the major powers, that would engage Iraq's neighbors and enforce their commitments
4. Responsibly Drawdown US Troops
Direct U.S. military commanders to develop a plan to withdraw and re-deploy almost all U.S. forces from Iraq by the summer of 2008
Maintain in or near Iraq a small residual force -- perhaps 20,000 troops -- to strike any concentration of terrorists, help keep Iraq's neighbors honest and train its security forces
5. Increase Reconstruction Assistance and Create a Jobs Program
Provide more reconstruction assistance, conditioned on the protection of minority and women's rights and the establishment of a jobs program to give Iraqi youth an alternative to the militia and criminal gangs
Insist that other countries take the lead in funding reconstruction by making good on old commitments and providing new ones -- especially the oil-rich Arab Gulf countries
Plan for Iraq: What It Is - and What It Is Not
Some commentators have either misunderstood the Plan, or mischaracterized it. Here is what the plan is - and what it is not:
1. The Plan is not partition.
In fact, it may be the only way to prevent a violent partition - which has already started -- and preserve a unified Iraq. We call for a strong central government, with clearly defined responsibilities for truly common interests like foreign policy and the distribution of oil revenues. Indeed, the Plan provides an agenda for that government, whose mere existence will not end sectarian violence.
2. The Plan is not a foreign imposition.
To the contrary, it is consistent with Iraq's constitution, which already provides for Iraq's 18 provinces to join together in regions, with their own security forces, and control over most day-to-day issues. On October 11, Iraq's parliament approved legislation to implement the constitution's articles on federalism. Prior to the British colonial period and Saddam's military dictatorship, what is now Iraq functioned as three largely autonomous regions.
But federalism alone is not enough. To ensure Sunni support, it is imperative that Iraqis also agree to an oil revenue sharing formula that guarantees the Sunni region economic viability. The United States should strongly promote such an agreement. The final decisions will be up to Iraqis, but if we do not help them arrange the necessary compromises, nothing will get done. At key junctures in the past, we have used our influence to shape political outcomes in Iraq, notably by convincing the Shiites and Kurds to accept a provision allowing for the constitution to be amended following its adoption, which was necessary to secure Sunni participation in the referendum. Using our influence is not the same as imposing our will. With 140,000 Americans at risk, we have a right and an obligation to make known our views.
3. The Plan is not an invitation to sectarian cleansing.
Tragically, that invitation has been sent, received and acted upon. Since the Samarra mosque bombing in February, one quarter of a million Iraqis have fled their homes for fear of sectarian violence, at a rate now approaching 10,000 people a week. That does not include hundreds of thousands of Iraqis - many from the professional class - who have left Iraq since the war. Only a political settlement, as proposed in the Plan, has a chance to stop this downward spiral.
4. The Plan is the only idea on the table for dealing with the sectarian militia.
It offers a realistic albeit interim solution. Realistic, because none of the major groups will give up their militia voluntarily in the absence of trust and confidence and neither we or the Iraqi government has the means to force them to do so. Once federalism is implemented, the militias are likely to retreat to their respective regions to protect their own and vie for power, instead of killing the members of other groups. But it is only an interim solution, because no nation can sustain itself peacefully with private armies. Over time, if a political settlement endures, the militia would be incorporated into regional and national forces, as is happening in Bosnia.
5. The Plan is an answer to the problem of mixed cities.
Large cities with mixed populations present a challenge under any plan now being considered. The essence of the Plan is that mixed populations can only live together peacefully if their leadership is truly satisfied with the overall arrangement. If so, that leadership will help keep the peace in the cities. At the same time, we would make Baghdad a federal city, and buttress the protection of minorities there and in the other mixed cities with an international peacekeeping force. Right now, the prospect for raising such a force is small. But following a political settlement, an international conference and the establishment of a Contact Group, others are more likely to participate, including countries like Saudi Arabia which have offered peacekeepers in the past.
6. The Plan is in the self-interest of Iran.
Iran likes it exactly as it is in Iraq - with the United States bogged down and bleeding. But the prospect of a civil war in Iraq is not in Tehran's interest: it could easily spill over Iraq's borders and turn into a regional war with neighbors intervening on opposing sides and exacerbating the Sunni-Shiite divide at a time Shiite Iran is trying to exert leadership in the Islamic world. Iran also would receive large refugee flows as Iraqis flee the fighting. Iran, like all of Iraq's neighbors, has an interest in Iraq remaining unified and not splitting into independent states. Iran does not want to see an independent Kurdistan emerge and serve as an example for its own restive 5 million Kurds. That's why Iran - and all of Iraq's neighbors -- can and should be engaged to support a political settlement in Iraq.
7. The Plan is in the self-interest of Sunnis, Shiites and Kurds.
The Sunnis increasingly understand they will not regain power in Iraq. Faced with the choice of being a permanent minority player in a central government dominated by Shiites or having the freedom to control their day-to-day lives in a Sunni region, they are likely to choose the latter provided they are guaranteed a fair share of oil revenues to make their region viable. The Shiites know they can dominate Iraq politically, but not defeat a Sunni insurgency, which can bleed Iraq for years. The Kurds may dream of independence, but fear the reaction of Turkey and Iran - their interest is to achieve as much autonomy as possible while keeping Iraq together. Why would Shiites and Kurds give up some oil revenues to the Sunnis? Because that is the price of peace and the only way to attract the massive foreign investment needed to maximize Iraqi oil production. The result will be to give Shiites and Kurds a smaller piece of a much larger oil pie and give all three groups an incentive to protect the oil infrastructure.
Joe Biden Will Rebuild America's Standing Internationally
Using Diplomacy to Keep America Safe:
Joe Biden knows that the Bush Administration has left the next president with virtually no margin of error diplomatically. With decades of experience on the Senate Foreign Relations Committee, and now its chairman, Joe Biden is the most qualified candidate to clean up the mess George Bush has made. Russia is rising on the world stage using oil as a weapon and China is becoming a greater force, both politically and militarily. Democracy is struggling in Latin America and oil has empowered dictators around the world who hold us hostage with their high prices. We need to end the genocide in Darfur as well as check Iran and North Korea’s progress on nuclear weapons and prevent them from increasing their nuclear arsenal. America needs a president with Joe Biden's experience to address these global challenges. As president, Joe Biden's foreign policy will draw upon all of America's strengths, including our ideas and our ideals, as well as our military might.
A Biden Administration would:
Rebuild Relationships:
Joe Biden knows that the most effective way of fighting radical fundamentalists is working with our allies around the world. Joe Biden will rebuild alliances in international law enforcement, intelligence and financial circles, strengthening our forces in the fight against radical fundamentalism and restoring America’s standing in the world
Secure Weapons:
Joe Biden knows loose nuclear weapons in the former Soviet Union and other weapons of mass destruction pose a grave threat to the United States if they fall into the hands of extremist networks. As president, Joe Biden will work to disrupt these extremist networks and improve detection systems to seek out these weapons before they harm the United States or our allies.
Advance Democracy:
Joe Biden believes that democracy cannot be forced on any people and he will work to help build the political infrastructure to support democracies and prevent extremists from taking hold of weaker, growing democracies.
Joe Biden: A Career in Foreign Relations
Ending Genocide in Darfur:
Joe Biden has been a leader in the effort to end the genocide in Darfur and believes we must act now—diplomatically and militarily. Joe Biden was the first Democratic candidate for president to push for a No Fly Zone in Darfur. He has traveled through the region and led a Congressional Delegation to the United Nations to encourage leaders there to step in with an international peacekeeping force.
Securing and Eliminating the Worst Weapons:
Joe Biden has dedicated his career to eliminating the threat of nuclear weapons. He pushed for the SALT II treaty, the Anti-Ballistic Missile Treaty, and the convention banning chemical weapons. As president, Joe Biden will continue his efforts to reduce nuclear arsenals around the world and secure stockpiles of dangerous weapons in the former Soviet Union.
Working for Peace and Justice in the Balkans:
When Joe Biden sees atrocities in the world, he acts to put a stop to them. As president, Joe Biden will continue his record of promoting peace and justice as he did when he called for U.S. intervention in the Balkans in the 1990s. Joe Biden’s efforts to bring US intervention helped Bosnians and Kosovars find and keep peace.
Increasing Alliances:
When the Cold War ended and new democracies emerged in Eastern Europe, Joe Biden led the effort to expand NATO to include Poland, Hungary, and the Czech Republic, and he’s been a strong supporter of Radio Free Europe/Radio Liberty.
Fighting Terrorism:
Joe Biden knew before 9/11 the threat extremism posed to Americans and urged the Bush Administration to refocus efforts on terrorism he predicted would come “in the belly of a plane.” As president, Joe Biden will continue efforts to secure American ports, rails, chemical plants and infrastructure.
Supporting Funding and Accountability for the United Nations:
Joe Biden has been a strong supporter of UN funding and fought to pass groundbreaking legislation providing for payment of U.N. arrears based on organizational reform.
Keeping Drugs out of the United States:
Joe Biden has worked hard as both Chairman of the Senate Foreign Relations Committee and Judiciary Subcommittee on Crime and Drugs to keep drugs out of the United States and make counter-narcotic efforts a central priority of our foreign policy.