This new bill introduced in 2003 would supposedly eliminate all of these deferments and make it harder for American citizens to move to and live in Canada to evade the draft. The bill called for 2 years of service to the American government for both men and women between the ages of 18-26. The bill sat in committee for over a year and a half and then was finally voted down overwhelmingly (402-2 in the House on HR 163) a month before the 2004 election. Gee, what a surprise!
Before you answer, you may want to read this pro/con piece from a couple of veterans at Georgia Tech University. http://www.cc.gatech.edu/~tpilsch/History/Reinstate.html Both of them bring up some very valid points for and against a draft.