the course of action that seems self-evidently proper to right-minded Americans — punishing the Egyptian military, ending military cooperation, suspending aid — will almost certainly have a catastrophic impact on Israel’s peace with Egypt….

America’s billion-dollar-plus annual aid package to Egypt does not exist for Egypt’s benefit, but for Israel’s. It’s the carrot, or bribe, that keeps Egypt faithful to its peace treaty with Israel, despite its enormous unpopularity on the Egyptian street. That treaty is critical to Israel.