President Obama’s recent foreign policy speech, delivered at this year’s West Point graduation ceremony, was a disappointment to anyone who hoped the president might be changing course. The failure of each US intervention thus far in the 21st century might have inspired at least a bit of reflection. However, the president made it clear that interventionism and American exceptionalism would continue to guide his administration in its final two years. The president said, “I believe in American exceptionalism with every fiber of my being,” adding the dubious claim that “because of American diplomacy and foreign assistance, as well as the sacrifices of our military -- more people live under elected governments today than at any time in human history.” There is much to disappoint in Obama’s big foreign policy speech. It represents a continuation of the policy of “do what we say and we will subsidize you, disobey us and we will bomb you.” That approach is a failure, but the neocons who back it show no sign of falling out of favor.