From John Kerry's website:

Today, the New York Times revealed that the Bush Administration failed to secure nearly 380 tons of high-grade explosives in Iraq shortly after the United States took control over the country, despite being informed of their exact location. The failure to secure the explosives has led to three major concerns:

1) The weapons could end up or have already ended up in the hands of a terrorist group;

2) The explosives might be used against our troops on the ground; and

3) The explosives could be used to carry out a deadly attack against America or our allies.

NEW REVELATION: Failure To Secure Iraqi Explosives May Mean that Powerful Explosives are in Hands of Terrorists

...Explosives May Help Terrorists Create Chaos. “In May, an internal I.A.E.A. memorandum warned that terrorists might be helping ‘themselves to the greatest explosives bonanza in history.’” [NYT, 10/25/04]

Explosives Could Be Used For Nuclear Weapon. “The explosives could also be used to trigger a nuclear weapon, which was why international nuclear inspectors had kept a watch on the material.” [NYT, 10/25/04]

Happy? Now is this speculation, or isn't it? If it's valid speculation, then so was mine. You can fall back on them using the words "might" and "could" if you want. Still the same political scare tactics. Interesting how the Left assumes that under Saddam's rule, such stuff would NEVER end up in the hands of terrorists. The mighty U.N. would never let THAT happen.

The liberal story:

Thousands of troops sweeping across Iraq = not nearly enough to watch all the munitions and storage sites.

A hundred inspectors being actively thwarted by Saddam's regime = a perfect method of containment of these stockpiles.

What's wrong with this picture?