You might be glad that I am not the president, but if I were, I would make a pre-emptive military strike on Iran's nuclear facilities. The world might rise up and shout, "Shame on You" but that is about all that would happen. Iran would not be in any state to bring a war to us, and the whole world would in reality breathe a big sigh of relief.
Sanctions have not and will not work with Iran, because of the radical belief of their president, Ahmadinejad. He believe in the 12th Immam - The Mahdi, and that by disrupting the world's systems and creating chaos, it will hasten the coming of the Islamic Messiah - The Mahdi. Ahmadinehad believes, this is his mission in life, and he has publicly proclaimed it many times. Even just this month, at the United Nations. Ahmadinejad is a modern day Adolf Hitler, with ambitions to make Iran a major world power.
If America does not stop Iran from becoming a Nuclear state, then it will force Israel to make the attack. They have done it before. In 1980, Israel destroyed Iraq's nuclear reactor that was being built by the French. Iran's nuclear weapons program is a definite threat to the security of Israel. I believe they have the cajones and resolve to do whatever is necessary, but it would really open a can of worms in the middle east.
The job would be better done by the United States. The world already looks at us as the big boys, and kind of a benevolent bully, so it would serve the security of everyone, if we took on the job. A Pugh institute survey last year showed that 75% of nations, support military action against Iran's nuclear weapons program - including Saudi Arabia.