Peace to the US and Israel means a Jewish state and a Palestinian state. They keep hoping that with enough appeasement,concessions and grovelling, the Palestinians will accept it. They don't. Palestinians don't want a Jewish state. They believe that the Arabs have the population numbers to eventually defeat Israel and don't have to compromise. The Arabs are playing Israel and especially the West for fools.
from the article: U.S. officials: Barak 'deceived' us about his role in peace process