First, a visual observation: he looked scrawny and ill-at-ease at the large, empty desk. There were no funny hand gestures this time, as there was for the Oil Spill address. This speech did have some good moments, which I will start with.

First, he clearly debunked the notion that we are bugging out of Iraq:

Going forward, a transitional force of U.S. troops will remain in Iraq with a different mission: advising and assisting Iraq’s Security Forces; supporting Iraqi troops in targeted counter-terrorism missions; and protecting our civilians. Consistent with our agreement with the Iraqi government, all U.S. troops will leave by the end of next year. As our military draws down, our dedicated civilians — diplomats, aid workers, and advisors — are moving into the lead to support Iraq as it strengthens its government, resolves political disputes, resettles those displaced by war, and builds ties with the region and the world. And that is a message that Vice President Biden is delivering to the Iraqi people through his visit there today.

This new approach reflects our long-term partnership with Iraq — one based upon mutual interests, and mutual respect. Of course, violence will not end with our combat mission. Extremists will continue to set off bombs, attack Iraqi civilians and try to spark sectarian strife. But ultimately, these terrorists will fail to achieve their goals. Iraqis are a proud people. They have rejected sectarian war, and they have no interest in endless destruction. They understand that, in the end, only Iraqis can resolve their differences and police their streets. Only Iraqis can build a democracy within their borders. What America can do, and will do, is provide support for the Iraqi people as both a friend and a partner.

And he put forth a positive statement on the Afghanistan war:

As we speak, al Qaeda continues to plot against us, and its leadership remains anchored in the border region of Afghanistan and Pakistan. We will disrupt, dismantle, and defeat al Qaeda, while preventing Afghanistan from again serving as a base for terrorists. And because of our drawdown in Iraq, we are now able to apply the resources necessary to go on offense. In fact, over the last 19 months, nearly a dozen al Qaeda leaders –and hundreds of Al Qaeda’s extremist allies–have been killed or captured around the world.

Within Afghanistan, I have ordered the deployment of additional troops who — under the command of General David Petraeus — are fighting to break the Taliban’s momentum. As with the surge in Iraq, these forces will be in place for a limited time to provide space for the Afghans to build their capacity and secure their own future.

But those comments were, regrettably, far outweighed by a number of unhelpful, ungracious, and downright inaccurate moments.

First, in his recap and praise of George W. Bush’s administration, he never explained how it was that we succeeded in Iraq. It was of course that same surge that we are now using in Afghanistan. He said this about Bush:

This afternoon, I spoke to former President George W. Bush. It’s well known that he and I disagreed about the war from its outset. Yet no one could doubt President Bush’s support for our troops, or his love of country and commitment to our security. As I have said, there were patriots who supported this war, and patriots who opposed it. And all of us are united in appreciation for our servicemen and women, and our hope for Iraq’s future.

But Mr. President, Bush was not just a great guy — he was right. It was one more instance of the lack of introspection and grace that has characterized Obama’s entire presidency.

Next, he reiterated the Afghanistan deadline, trying to fuzz it up rather than revoke it:

[A]s was the case in Iraq, we cannot do for Afghans what they must ultimately do for themselves. That’s why we are training Afghan Security Forces and supporting a political resolution to Afghanistan’s problems. And, next July, we will begin a transition to Afghan responsibility. The pace of our troop reductions will be determined by conditions on the ground, and our support for Afghanistan will endure. But make no mistake: this transition will begin — because open-ended war serves neither our interests nor the Afghan people’s.

You see, Obama’s not into open-ended commitment. This is the same counterproductive claptrap that has been roundly criticized and that reveals him to be fundamentally disinterested in foreign policy. It is also why both friends and enemies doubt our staying power.

But most of all, the bulk of the speech had nothing to do with either Iraq or Afghanistan — it was a pep talk for his domestic agenda. This cements the sense that he simply wants out of messy foreign commitments. He also repeated a number of domestic policy canards. This was among the worst, blaming our debt on wars rather than on domestic fiscal gluttony: “We have spent over a trillion dollars at war, often financed by borrowing from overseas. This, in turn, has short-changed investments in our own people, and contributed to record deficits. For too long, we have put off tough decisions on everything from our manufacturing base to our energy policy to education reform.”

He is arguing for more spending.

Obama is still candidate Obama, never tiring of reminding us that he kept his campaign pledge and ever eager to push aside foreign policy challenges so he can get on with the business of remaking America. All in all, it was what we were promised it would not be — self-serving, disingenuous, ungracious, and unreassuring.

UPDATE: COMMENTARY contributor Jonah Goldberg’s smart take is here.

UPDATE II: Charles Krauthammer’s reaction is here.