North Korea
North Korea has been a problem in its region for half a century, and now it apparently has nuclear weapons. The United States should certainly continue to monitor the situation, but should not use a military option against the North Koreans unless they have attacked the United States or an ally. Regardless of the behavior of any government, the United States should always be willing to provide food and medicine to the world's neediest people.
(Original statement: The United States should always be open to bilateral talks with the de facto government of a sovereign nation.)
Alternative: The most promising approach to take in regards to foreign policy (especially North Korea) would be to take the approach the situation through the United Nations. It has been shown throughout history that combined, global and positive diplomatic effort through an organisation such as the UN is much more effective than a unilateral (military or other) action by the US. With american military resources already spread very thin and a very real threat of nuclear retaliation against South Korea, it might even be the only realistic option anyway. It's a realistic, pragmatic and sensible approach and even if the power of the UN has been dilluted (mostly by neglect) over the years, there's no time like the present to start using it for its original purpose. Situations like North Korea are exactly the reasons the UN and NATO got created in the first place.
Note that the UN could be very helpfull in the Iraq situation as well. Even though there might have been a enormous disagreement over the original invasion, it will (probably) still answer to a peace-keeping mission.