He was just a tad off the mark on this one.

Via New Yorker (Jan. 2014):

…At the core of Obama’s thinking is that American military involvement cannot be the primary instrument to achieve the new equilibrium that the region so desperately needs. And yet thoughts of a pacific equilibrium are far from anyone’s mind in the real, existing Middle East. In the 2012 campaign, Obama spoke not only of killing Osama bin Laden; he also said that Al Qaeda had been “decimated.” I pointed out that the flag of Al Qaeda is now flying in Falluja, in Iraq, and among various rebel factions in Syria; Al Qaeda has asserted a presence in parts of Africa, too.

“The analogy we use around here sometimes, and I think is accurate, is if a jayvee team puts on Lakers uniforms that doesn’t make them Kobe Bryant,” Obama said, resorting to an uncharacteristically flip analogy. “I think there is a distinction between the capacity and reach of a bin Laden and a network that is actively planning major terrorist plots against the homeland versus jihadists who are engaged in various local power struggles and disputes, often sectarian.