America is facing a number of problems since her invasion cum usurpation in Iraq to have firm comprehension of these problems and to draw a strategy for her exit it is favorable to browse back some ground realities:

Why did America attack Iraq and then did invasion?
On plea of:
-WMD
-Terrorism/fundamentalism/fear of Islamic radicals

Aforementioned are two arguments which America even presented in UN through Powell yet after distorting them, USA –the sole super power of existing world knew that ratio of intimidation of terrorism from Iraq is far lower than from Syria and Iran! One of the survey teams under the American has unequivocally and categorically has allayed American apprehensions concerning treats of terror in Iraq and the head of that survey team resigned after American invasion as he said that American decision was based on distorted evidences and he scrupled. But America deemed it fit to invade Iraq because of following:

-“Mug an Arab country war high oil prices!” (Lectures delivered around about in 1999 on American foreign policy).
-Iraq natural “ill luck” being the possessor of huge oil treasure.
-Sada’m’s plan to endorse Euro based trade; he was in full swing to pay in Euro instead of dollar; world economy is based on dollar it could be a huge setback for America because it could moderate the American hegemony by tampering her sway on world economy and it could be a quandary for America when she is the no 1 debtor of this world.

Iraq today is another replica of Vietnam. Let see what Washington post says:

“First it was predicted that Iraq wont be Vietnam because of lack of long standing nationlist movement and charismatic leader Ho Chi Minh and insurgents had not havens. Bush despite September 11 commission, which said that there was no link between 9/11 and al Queda Bush keeps on showing that nonexistent link. In Iraq terrorist in Vietnam there was threat of communism. Statistics in Vietnam and of Iraq are identical same line of progress-heath sector, education etc i.e. trivial or petty issues. Same political rhetoric...
There is a bold rhetorical shift. The president, who took his country to war in Iraq on account of nonexistent weapons of mass destruction, and then recast the invasion as a pro-democracy move, is now arguing that Iraq is ground zero for World War III, the battle against terror that began on 9/11”

We can easily see how Bush administration shifted from one excuse of war to other because of:
-She fails to bolster her excuse based on threats of terror and WMD.
-Casualties of American soldiers and these casualties are not tapering off.
-Inefficient control on war and growing insurgency.
-Anyone who has gone through Bush rhetoric can easily estimate that despite knowing truth Bush has to give false evidence to support his misadventure in Iraq otherwise his notoriety is getting momentum in America as recent poll shows in America.

Now question arises what America should do but before what America does let see what could be different strategies of exit:

Strategy number 1:
America runs away and leaving Iraq in status quo- in lurch; an immediate rush!

Merits:
-Support to her economy;
-No further casualties;

Demerits:
-A huge setback to American influence.
- A slap on face of American power and her claims being the guardian of “democracy”, “liberty” and “freedom” of every entity of this world.
-Eventually a clear illustration that American war was personal war on war based on her national interests instead of vindicating other’s fundamental rights be it a nation or a person!
-A clear signal to “terrorists” (pseudo) and terrorists (real) to spread violence and perpetrate terrorism as per their choice!

This strategy is actually a hell strategy and to pursue this strategy is juts destroy American influence; USA can’t leave America instantly on the aforementioned bases.

Strategy number 2:
If America prefers to stay there in Iraq to the time when she will be fully able to harvest what she wants!

Merits:
Demerits of strategy 1; for instance it will strengthen the American influence and would realize the “American Dream”.

Demerits:
Reverse of merits of strategy 1 for instance America must be ready to bury huge number of her soldiers.

Strategy 3: (I would prefer this strategy)
America must leave Iraq after announcing a clear road map or exit strategy a schedule of her exit yet after strengthening Iraqi administration.

Merits:
-American influence wont get magnitude of that setback which is mentioned in strategy no 1.
-Iraq wont be convert in Afghanistan as if America leaves Iraq immediately Iraq has high probabilities to indulged in civil war as after USSR disintegration Afghanistan did.
-America could be able to maintain her very status of “chief justice” of this very existing world because even as after Iraqi election she enunciated that American invasion had escape dictatorship in Iraq and emancipated Iraqis form their plights! – Parameter to bolster American invasion in Iraq though her ground to originate war in Iraq has been shake off!
-Iraq won’t be construed in term of Vietnam replica!

Demerits:
-It would anyhow show American inefficient and incapability to handle war (every where on earth) so a setback to American “entitlement” but severity of this setback won’t be in that magnitude as mentioned in strategy 1. as Bush, too, categorically ruled out any chance to yield any exist strategy because he interpret it as American surrender to insurgency and terrorism.

But if America has to promote her interests to have hegemonic control on this world she has to follow strategy 2 though this strategy has quite a high price! (Neocons’ perspective). Otherwise my personal choice is strategy 3.