One more indication Obama is a tool of the Chicago political machine. I don't think there's a less worthy site for the Olympics, unless it's Detroit, and winning the bid would not generate any real jobs for another 4 or 5 years. But what it would have done was give Chicago and Illinois fat cats a chance to cash in on the real estate maneuvering which result from needing land to build the Olympic venues on.
With the health care bill floundering around Congress, and the economy still in the pits thanks to a total FAIL series of bail-outs, the Prez seems to have his priorities skewed.
Edit add: A bit of perspective here: No US President was involved in pimping the Olympic bids for Salt Lake in 2002 or Atlanta in 1998. I can't remember a US President ever making a move like this. And yeah, Brasil's Prez went to Copenhagen, but he was fighting for the first ever Olympics on his continent.