This seems like a crazy idea, but then again, it is the solution "preferred by the Bush administration." The Pentagon is going to attempt to 'shoot down' its disabled, experimental spy sattelite, which is due to re-enter Earth's atmosphere in March. Rather than let the odds play out and let it come down to an unpopulated area or ocean, we're going to blow it up into fragments of dangerous orbital debris / space junk. Bravo!
China proved that it can be done in January 2007, and they successfully made a lot of dangerous orbital debris, which of course, can damage other satellites, spacecraft, and possibly the International Space Station.
I'd love to see the missle miss its target. Let's see how this clever idea plays out...