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After Iran's election, what happens to Obama's engagement policy?

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But in a commentary for The Wall Street Journal, columnist Bret Stephens criticized Obama's "realist" Iran policy for being "incoherent and obsolete," and argues that Obama's efforts to avoid "meddling" in Iran have shown no results.

Iran's nuclear programs are accelerating. It is testing ballistic missiles of increasing range and sophistication. Its support for terrorist groups such as Hamas and Hezbollah is unabated. Ahmadinejad stole an election in broad daylight. Supreme Leader Ali Khamenei blessed the result. British Embassy staff are under siege. A campaign of mass arrests and intimidation is underway and a young woman named Neda Soltan was shot in the heart simply for choosing none of the above.
Oh, and Iran still accuses the U.S. of "meddling."
Now Mr. Obama is promising more of the same, plus the equivalent of a group hug for the demonstrators. Is this supposed to be "realism"?
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