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Obama: US 'underestimated' Islamic State threat

President Barack Obama speaks at the Congressional Black Caucus Foundation’s 44th Annual Legislative Conference Phoenix Awards Dinner in Washington, Saturday, Sept. 27, 2014. Obama told the audience that the mistrust of law enforcement that was exposed after the fatal police shooting in Ferguson, Missouri, has a corrosive effect on all of America, not just on black communities. (AP Photo/Susan Walsh)WASHINGTON (AP) — President Barack Obama is acknowledging that U.S. intelligence agencies underestimated the threat from Islamic State militants in the Middle East and overestimated the ability and will of Iraq’s army to fight such extremists.

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