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President Obama and his aides heralded his commencement speech at the United States Military Academy at West Point on Wednesday as a big moment, when he would lay out his foreign policy vision for the remainder of his term and refute his critics. The address did not match the hype, was largely uninspiring, lacked strategic sweep and is unlikely to quiet his detractors, on the right or the left.

Mr. Obama did make a strong case on the use of force. Understandably frustrated by critics who “think military intervention is the only way for America to avoid looking weak,” Mr. Obama was steady and sensible on this vital issue. He endorsed military action, even unilaterally, when the country is threatened or when the security of its allies is in danger. But he stressed, correctly, that not every problem has a military solution and warned that “some of our most costly mistakes came not from our restraint but from our willingness to rush into military adventures.” (He was right, for instance to call off the threat of action after President Bashar al-Assad of Syria agreed to surrender his chemical weapons.)

In his speech, Mr. Obama tried to push back against critics who say he has ceded America’s post-World War II dominance. The question, as he correctly put it, is “not whether America will lead but how we will lead” and he reasserted that “isolationism is not an option.” Mr. Obama was right when he suggested there would be no serious negotiations over Iran’s nuclear program without his approach to American leadership.

But he provided little new insight into how he plans to lead in the next two years, and many still doubt that he fully appreciates the leverage the United States has even in a changing world. Falling back on hackneyed phrases like America is the “indispensable nation” told us little.

The president said he wanted to spend $5 billion to train and support armies in places like Libya, Mali, Yemen and Somalia to combat terrorists. The aim is to avoid having to use American troops, and, in theory, it makes sense. But the United States has a checkered history in such endeavors, and Mr. Obama made only a cursory mention of other factors crucial to success, including responsible governance and education for all. It was disturbing to hear him gloss over the return of military rule in Egypt.

Mr. Obama’s talk of the need for more transparency about drone strikes and intelligence gathering, including abusive surveillance practices, was ludicrous. His administration had to be dragged into even minimal disclosures on both topics. Just Tuesday, the administration said it wanted to make further deletions from a legal memo on drone strikes that a court ordered it to make public.

Mr. Obama’s comments on China and Russia barely touched on how he plans to manage two major countries that have turned increasingly aggressive. Pledging anew to close the jail at Guantánamo Bay, Cuba, which Congress has blocked, was, at this point, little more than a reassuring gesture.

This was far from Mr. Obama’s big moment. But since he has no office left to run for, what matters ultimately is his record in the next two and a half years.