US giving up on Mubarak?

No link yet, but the State Department has suspended aid to Egypt.

UPDATE: There’s still no official word from the State Department and Fox News has backed off to “may have suspended aid.”

UPDATE: Seconds later, Megyn Kelly says she “may have misspoken,” and that State will “review” aid to Cairo.

FINALLY: From Forbes:

An Obama administration official says the U.S. will review its $1.5 billion in aid to Egypt based on events unfolding in the country, where the authoritarian government is struggling to extinguish huge and growing street protests… The official spoke on condition of anonymity because of the delicacy of the situation.

Get out too far in front of a failed revolution, and risk losing an ally. Do nothing, and risk the Muslim Brotherhood co-opting the the movement and taking hold of Egypt. But based on how President Obama failed to speak up for the protestors in Iran, the latter seems more likely.