Cheney is defending the need for state secrets but has a proven record of benefitting from intelligence that has been obscured from the general public. Motive is extremely important here.
This would remain a valid example of moral hazard even if Cheney had been drafted and experienced combat in Vietnam. The draft was one of the reasons the Vietnam War was so unpopular, avoiding it could be construed as an act of civil disobedience. It's not an essential part of the argument.
On several occasions. He was the Secretary of Defense for the first Gulf War, and VP when both Afghanistan and the second Gulf War started up.
More generally should we only elect candidates who have also served so that we can avoid having a CinC who sends soldiers to battle even though they did not serve? If Cheney had a legitimate 4F during Vietnam would you be more supportive of his decision to invade Iraq?
If Cheney were simply a chicken-hawk, then there would be no issue. If he were simply a profiteer, there would also be no issue. But his active role as both is worrisome: he stands to profit from his direct ability to shape public opinion as a once-elected representative of the population.
As our society discusses this issue, it is important to take into account not only what is said, but why it is being said. This is what is meant by assessing credibility to speak about a certain matter. The sum of a person's actions informs the listener about his or her credibility and Cheney is no exception.
Why did you assume I used a Democrat as an example?