This statement shows the naivete of a child. The Israeli/Palestinian conflict is an existential one. I don't recall The U.S. challenging Canada's right to exist. As several bloggers pointed out, it's hard to recall a time when Canada was lobbing missiles at the U.S. Then again, if they did and hit Detroit, we might not even notice.
But this is no joking matter. This comparison illustrates that President Obama doesn't have an even basic understanding of the nature of the Israeli/Palestinian conflict. No this isn't childlike naivete. It's a dazed Rodney King asking "can we all just get along?" No Mr. President, they can't.