What Does Article Five of the North Atlantic Treaty Actually Say?

In The Room Where It Happened, John Bolton points out that "This provision [Article 5] is actually less binding than its reputation [. . .]" (p. 133).  

The full text of article 5 is:

Article 5

The Parties agree that an armed attack against one or more of them in Europe or North America shall be considered an attack against them all and consequently they agree that, if such an armed attack occurs, each of them, in exercise of the right of individual or collective self-defence recognised by Article 51 of the Charter of the United Nations, will assist the Party or Parties so attacked by taking forthwith, individually and in concert with the other Parties, such action as it deems necessary, including the use of armed force, to restore and maintain the security of the North Atlantic area.

Any such armed attack and all measures taken as a result thereof shall immediately be reported to the Security Council. Such measures shall be terminated when the Security Council has taken the measures necessary to restore and maintain international peace and security.

 As Bolton underlines, each country is only required to take "such action as it deems necessary"--which. of course, is why we hear such variation in the course of action being proposed by various NATO members in reaction to the war in Ukraine.  A country can decide to take no action without contravening Article 5.

In his recent post-NATO press conference, President Biden stated "I believe the obligation of Article 5 is sacred."  Biden also noted that former President Trump "has made it clear he would feel no obligation to honor Article 5."   Both points are moot since Article 5 does not create the obligation being implied.   Contrary to what the general public is encouraged to believe, Article 5 does not commit the USA or any other country to taking military action.

Moreover, Article 5 clearly defers to Article 51 of the UN charter, and more specifically to the Security Council.  It is worth remembering that both Russia and China are permanent members of the Security Council with powers of veto over any Council resolution.