Yes, technically you could reuse spent fuel rods if it were economically feasible, but breeder reactors are not. There are none in the US and only a handful remaining in Europe. Again, politics have all but killed them.
As for fusion:
"Progress in fusion research has been promising, but the development of practical systems for creating a stable fusion reaction that produces more power than it consumes will probably take decades to realize. The research is expensive, as well. " - "Nuclear Energy," Microsoft® Encarta® Online Encyclopedia 2004
See:
http://encarta.msn.com/encyclopedia_...ar_Energy.html
for a nice, easy read on the subject.