As far as hosting goes, the Olympic tradition has been on unsteady ground as of late. The International Olympic Committee is chewing its nails over the slow construction progress in Rio, which will be hosting the Summer Olympics less than two years from now.

At the same time, reluctance to host the Winter Olympics is at an all-time high. Norway, which had been one of the leading contenders to host the 2022 Winter Games, withdrew its bid citing concerns about cost and poor economic returns on such a massive event.

That leaves the IOC under pressure to impress with the 2024 Summer Olympics. It had been rumored already that the United States was a frontrunner because the committee wants a reliable host to help the world forget about Rio's shortcomings.

According to an editorial in the Bloomberg Review, Washington D.C. should throw its hat into the ring.

Although the final decision won't be made until 2017, the District of Columbia is already prepping itself. The city's official bid committee is being led by Washington Capitals and Wizards owner Ted Leonsis, and a working list of selling points has already been crafted.

For the IOC, the committee will stress world-class security an infrastructure, a global population, world-famous sights and attractions, and its status as the geopolitical center of the world.

For the city itself, the sales pitch is tougher, but it is viable nonetheless. D.C. -- and through that, the United States -- could showcase itself as a world power, particularly at a time when that reputation might be flagging. By hosting a successful Olympics -- and doing it well -- America would earn praise from around the globe and potentially expand its political clout.

And despite growing concerns about the high costs of hosting an Olympics, recent cases prove that it's possible to turn a profit. In 2012, for example, London was able to efficiently host the games by completing its various construction projects under budget. In the long term, the city was able to boost its economy, particularly in terms of job creation and increased tourism.

Washington's committee contends that such an outcome is possible for D.C., and that the community would also be positively served by rallying around the Olympic Games.

Right now, the pack among U.S. host hopefuls is dense -- Boston, Los Angeles and San Francisco have all declared -- so Washington D.C. is far from a shoo-in. But if it can sell itself as the answer to many of the IOC's current headaches, the District could become a frontrunner.

Related Story: U.S. Skier Explores Ruins Of 1984 Winter Olympics

Story continues below