The International Atomic Energy Agency's latest report this week makes clear what I and others have been warning about for too long: Iran is making rapid headway toward its goal of obtaining nuclear weapons.

Successive American presidents, including Barack Obama, have declared such an outcome to be unacceptable. But under the Obama administration, rhetoric and policy have been sharply at odds, and we're hurtling toward a major crisis involving nuclear weapons in one of the most politically volatile and economically significant...