Is this a good Egypt policy for America?

Suppose Obama says: "We view the current situation in Egypt as an internal matter. We want whichever government can provide for the needs of the Egyptian people. Right now, we believe that government to be Mubarak's. However, if Mubarak does not implement real reform in the next few months, we will no longer view it as an internal matter and we will withdraw our support for him" This gives plenty of wiggle room to keep Mubarak (since our other dictator 'friends' like Saudi are watching to see if we throw Mubarak under the bus), yet if Mubarak is overthrown, we can claim that he didn't implement 'real reform'. Also, we could say that American aid to Egypt is for the Egyptian people and will continue regardless of whichever government is in power. Thoughts?