Circumcision, or removing the foreskin of the penis, has always been controversial because attitudes towards it are rooted in religious and cultural attitudes. Some groups consider it hygienic; others see it as mutilation. If it is done in industrialized countries, it is usually done shortly after birth. By comparison, in traditional societies, it is done as a male rite of passage.
The World Health Organization recently reaffirmed that several scientific studies have shown that in SubSaharan Africa, circumcision could reduce the rate of HIV transmitted to men by HIV-infected women (penile:vaginal sex) by 50%. That is a major impact in a part of the world with a heavy burden of HIV.
Such a benefit is unlikely to be seen in a similar magnitude in the United States because the HIV-affected population and risk factors are not comparable. Indeed, no similar benefit to circumcision has been demonstrated with homosexual male to male anal sex. Further, some experts at the CDC believe that any strategy that has the potential to reduce HIV in high-risk populations, who tend to be less likely to undergo circumcision, should be encouraged.
There is also evidence that circumcision can prevent urinary tract infections in infants and boys. Right now, it is looking like the CDC and American Academy of Pediatrics may "encourage" circumcision. The CDC has not officially spoken, but a movement is afoot to promote circumcision in newborns and high-risk men.
Endorsement by public health authorities and physician groups could translate into insurance coverage by Medicaid and private insurers. Medicaid in many states does not cover the procedure.
Resources
CDC HIV/AIDS Science Facts: Male circumcision and risk for HIV transmission and other conditions: implications for the United States. February 2008.

Weighing in from a strictly female point of view, I find sex with uncircumcised men to be more pleasurable and never uncomfortable due to natural male lubrication.
A considerable majority of the many women I’ve slept with positively prefer circumsized partners, no doubt at all.
Most of the world does not circumcise. And yes, it is viewed as mutilation. I lived in Europe for many years and my friends commented on the “strange” custom that Americans have of destroying a part of the male organ that is filled with nerve endings and enhances pleasure. (There was a study in the British Journal of Urology that confirms that men with intact organs experience four times the sensual pleasure of men who are circumcised.)
In a decidedly unscientific survey, my female European friends told me that sex with an intact male is far preferable to being with a circumcised man.
Although both the Jewish and Muslim religion advocate circumcision, there is a website called “Jews Against Circumcision” that lists medical, sexual, psychological and other reasons against the practice. They state: “The American Medical Association, the American Academy of Pediatrics and equivalent organizations in Canada all state that routine circumcision is not medically justified.”
They also cite studies using EKGs and EEGs of male infants undergoing circumcision, and yes, despite what some people allege, these infants undergo extreme pain.
If you google “Rabbis against circumcision,” you will find many sites with information on why some Jewish people do not approve of this ancient practice.
A group called “Mother Against Circumcision” has some interesting information on their website.
While most Americans would call female circumcision barbaric, some have no problem with the same procedure performed on men.