It would be politically unwise at this time for the President to laugh out loud about the Pallies getting their a$$es kicked again.
IMHO, the game GW is up to involves giving the enemies every possible opportunity to redeem themselves by behaving as civilized people, which he knows (as does everyone else involved) they will not.
And once the olive branch has been refused, burned and broken one too many times, we will be justified (by world opinion) in allowing Israel to finish them off once and for all.
It's the old game of giving one's adversaries just enough rope to hang themselves.
If I'm wrong, then god help us all.