It seems the new secretary of state sees foreign policy as spending tax payer dollars in a country not likely to support the US policies, in fact, it will most likely turn the country further away from the US. Not only that, the US didn't receive anything concrete in return - nada. [Kerry pledges millions for Egyptian budget].
The US doesn't seem to realize that bribery just doesn't work, and interference, actual or not, increases the gap between the US and countries in the Middle East. Citizens of these countries realize that money comes with strings - it is the strings that will embolden the opposition in Egypt.