As usual, Caroline Glick puts it best:
The simple truths that the media, Jimmy Carter, the Bush administration, and the Olmert-Livni-Barak government are all unwilling to acknowledge are that Hamas is a genocidal terror group sworn to Israel's destruction and that it represents the will of the majority of Palestinians who elected it to office in 2006 and who continue to support it today.
This plain reality demonstrates that there is only one responsible policy for Israel to follow and for the international community to support if they are truly interested in peace between Israel and the Palestinians. That policy is for Israel to lay waste to Hamas's terror army in Gaza and overthrow its regime. Only when they are forced to pay a real price for their support for terror and jihad - as opposed to being rewarded for it with further Israeli land giveaways - will the Palestinians be forced to reconsider that support. Only when they realize that terror will get them nowhere - as opposed to anywhere they wish - will the Palestinians be forced to accept Israel as an unchanging reality with which they must live in peace.