When it released its National Strategy for Counterterrorism back in June, the Obama administration had a lot to crow about. Al-Qaeda mastermind Osama Bin Laden had been killed a month earlier by U.S. special forces in his compound in Abbottabad, Pakistan. Persistent operations by the United States and its Coalition partners over the preceding year had succeeded in degrading the organization's capabilities in a number of key theaters (including Afghanistan and Pakistan). And counterterrorism operations then underway would net major gains in the months that followed, not least the late September death by Predator drone of influential Yemeni ideologue Anwar...