September 8, 2014 7:37 PM EDT

President Obama pushed back against critics of his handling of ISIS militants in Iraq on Meet The Press Sunday, as the first guest of new host Chuck Todd.

“Number one, this is a serious threat,” Obama said. “We have the capacity to deal with it.”

The President added that he plans to announce a more detailed strategy in a speech this week.

“This is not going to be an announcement of ground troops. This is not the Iraq war,” he said. “It’s similar to the counterterrorism campaigns we’ve been doing for the past 5-6-7 years.”

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