Why (from his point of view) would it be either/or? The latter claim could overlap with or imply the former. In principle, it doesn't have to, but saying the response was adequate certainly doesn't imply that liberals were correct about the magnitude of the threat.
Right, so based on what I know, I can't speak to the state of his mind or all the things he said that indicate it. So if you think some people are wrong and your opinion is right, you might consider explaining why.