The slate is not blank when weighing the future of Israeli deterrence; it contains eight months of previous actions that factor into the equation. And when the full equation is absorbed, the ceasefire agreement that is on the table makes more sense on the deterrence question. The longer that Israel takes over neighborhoods of Gaza and recovers only bodies of dead Israelis, the more that its deterrence is diminished. Looking beyond Gaza, Israeli deterrence has been demonstrably eroded. The fact is that Israeli deterrence was badly broken on October 7, and has only eroded further in the months since.