Spiritually spurious, religiously reticent, how cynical am I?

While I don't subscribe to conspiracy theories about the US or Israel being behind 9/11, I have trouble believing we couldn't have located and eliminated Bin Laden any time we wanted to. I think the Bush Administration found him more valuable as a permanent boogie man, but an Obama admin, with plummeting approval ratings, needed a PR boost. Am I being too cynical?