Eisenhower and George H.W.Bush could get away with threatening to withold finanical aid if Israel didn't pull in the reins, but the AIPAC strangulation wasn't so complete then as it is now, and hence it didn't have the overwhelming leverage it does now. AIPAC has tentacles that infiltrate every branch of government including the judiciary, the White House and the media. This is why Netanyahu can afford to flout his middle finger so defiantly, because he knows that if a counter-threat is even mentioned, he can bring down Obama and the government. I have a pretty shrewd idea what that is, and so does pretty much the rest of the world.
The only way to handle blackmail is to come clean, but many believe that is just not going to happen.
The fact is that if Israel threatens to bring down the US government, it will bring itself down also, and that is why Obama should call Bibi's bluff. It can be handled firmly but diplomatically, even incrementally, in private without recourse to rancor and without using the same vile methadology that the terrorist state of Israel uses.