Despite the smiling images from Sharm el-Sheikh, the fact is that Mahmoud Abbas, the president of the Palestinian Authority, has taken no demonstrable steps to dismantle and disarm the vast Palestinian terror networks, end the incitement or arrest terrorists. And although his rhetoric even after his election has been troublesome (calling for a \”big jihad,\” referring to Israel as the \”Zionist enemy,\” making it clear he will not use force against terrorists, and endorsing the policies of Yasser Arafat), the administration and Congress are falling over themselves to throw vast sums of money his way. President Bush has promised $350 million to Abbas, more than four times that given to Arafat by the Clinton administration.