A definitive measurement of an electric dipole moment (EDM) would likely imply new physics beyond the standard model. Although the standard model strong interaction term could theoretically produce an EDM of any size, that it is constrained by the current neutron EDM limit to be some 10 orders of magnitude smaller than 1 suggests that the electroweak sector and CP violation will be the source of a measurable EDM. The weak interaction standard model EDM is itself orders of magnitude smaller than contemporary experiments can measure. Direct measurement of the neutron EDM lies in the next decade; measurement of the proton EDM could well come first. A BNL proposal for an electrostatic storage ring measurement lies in the offing. Unless the EDM proves to be an isoscalar, one will need other measurements to separate the isoscalar, isovector, and isotensor components. Measurement of a nuclear EDM will be required: 2H, 3H, or 3He being the simplest nuclear systems. A storage ring measurement of the triton EDM could be accomplished in a manner analogous to that proposed for the proton. However, the deuteron EDM measurement offers certain advantages, even though the experiment would be more complex, involving electric and magnetic fields, than that required for the proton and triton. The COSY facility in the Forschungszentrum Juelich is almost an ideal facility to house such an experiment; one could also measure in the same ring the EDM for the proton and He. The deuteron is the one nucleus for which exact model calculations can easily be performed. We briefly explore the model dependence of deuteron EDM calculations. Using a separable potential formulation of the Hamiltonian, we examine the sensitivity of the deuteron EDM to variations in the nucleon-nucleon interaction, including contemporary potential models, and we explore the dependence upon intermediate state multiple scattering in the 3P1 channel. We investigate the tensor force contribution to the model results and examine the effects of short-range repulsion that characterize realistic, contemporary potential models of the deuteron. Because one-pion exchange dominates the EDM calculation, separable potential model calculations appear to provide an adequate description of the deuteron EDM until such time as a measurement of better than 10 % is achieved.