I am an Israeli so I will answer this. It's their land, not ours. Over a million hostile Arabs live there. Prior to 1948 there was almost no Jewish population there at all. There had never been a significant Jewish population there through much of history. Yes, it is part of the promised land and we will have it when moshiach comes. For now, though, to keep 6,000 Jews isolated in the midst of so many Arabs simply does not make sense. We need secure borders.
Okay, I can agree with that, but what happens in 20 years? They won't be happy until you're all floating around in house boats. : (