The military-backed interim government of Egypt has abandoned any pretense of being representative, democratic, law-abiding or even simply decent or honest. Their recent attacks on their own citizens are vicious and far outside anything America should support or tolerate.
If we don't cut off, freeze, or cancel every ounce and dime of aid that is in the pipeline to Egypt, I'm not sure which is worse - the implicit message to these murderers that we are 'with' them, or the implicit message to the Egyptian people that we don't give a damn about them or their rights or aspirations.
If we don't cut off aid to Egypt decisively and immediately, I don't understand how anybody alive today in the Middle East could ever trust or admire the United States again.