James Gibney wants to end it:

I don't think we should use the threat of aid cuts to try to bully Mubarak into reforming Egypt's political system, or Netanyahu into making concessions in Israel's talks with the Palestinians. Instead, for larger strategic reasons, we should just flat out cut aid to both countries and redirect some of the money toward other goals that have gone neglected.

Agreed. But, as James knows, the merits of the case from the point of view of American interests barely matter.