Olympics failed bid reduces O's presidency

At least that's what the Brits are saying:

There has been a growing narrative taking hold about Barack Obama’s presidency in recent weeks: that he is loved by many, but feared by none; that he is full of lofty vision, but is actually achieving nothing with his grandiloquence.

Chicago’s dismal showing today, after Mr Obama’s personal, impassioned last-minute pitch, is a stunning humiliation for this President. It cannot be emphasised enough how this will feed the perception that on the world stage he looks good — but carries no heft,