"The world is now so vastly different in its distribution of not only economic power ... but also in military and diplomatic power."

The Nebraska Republican then explained: "The great challenge of our time for America is our competitive position in the world and understanding this great diffusion of new power. The United States is no longer the dominant power on earth as we have been the last 50 years. That's good news, I think."

Though Hagel's comments could come back to haunt him if, as is widely rumored in Washington, he decides to seek higher office, the GOP maverick had some good news for the Bush administration.

Asked if he'd seen any evidence that would cause him to oppose U.N. ambassador nominee John Bolton since his confirmation was put on hold two weeks ago, Hagel said, "I have not seen anything that would keep me from voting for him ... from what I know now."

He did add, however, that he reserved the right to change his mind if more credible allegations about Bolton came to light.

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