The President probably did the best thing at the time of his election (and before that, when he was truly confident he would be elected), which was to not make the mistake of so many libs 'n' Dems and wreck Defense (by robbing it, mainly). Note that he left Gates in charge, who could be the “ax man” when the coming reductions in Defense were to materialize. We've seen one blunder after another this year that has involved silly rushing; there's no need for him to rush with Afghanistan, or to truly gut Defense (as, for example, Barney Frank wants to do, a prompt 25% reduction, with which funds would be spent on who knows what other vote-buying measures instead).

And you can read his actual speech for yourself rather than the Telegraph's interpretation of it from ” sources close to the administration” or an “adviser to the administration”.

He told the Institute of International and Strategic Studies that the formula, which is favoured by Vice-President Joe Biden, would lead to “Chaos-istan”.

Actually that's a formula suggested by a nut named Richard Marbury who has zero foreign policy or COIN experience.

I'd failed to stop and look at McChrystal in that light. I must be getting old.

Petraeus is a great general. McChrystal? Not so much.
May be time for the President to pick a better (non-political) General. Of course, he should have done that in the first place.