A panel on the Iranian nuclear threat just wrapped up here at the Herzliya conference in Israel, and John Bolton answered an audience question with the following, which is not an exact quote (I was scribbling in a notebook as he spoke), but which if in error is not far off:

Make no mistake: The United States is not going to do anything about Iran. The U.S. hasn’t in the past, we have no policy now, and we’re not going to have one for the remainder of this administration. It’s not going to happen.

This was his most terse statement of these ideas; his speech, a transcript of which I’ll post as soon as I can locate one, explained all of the above in more depressing detail.