Most Americans, regardless of how much they really care about the Olympics, wish at least the American team to do well. This becomes especially clear when members of the American team face off against a perceived rival such as Russia or China. If Americans do well in such a match it is widely trumpeted, but if they do particularly bad, it becomes an embarrassment that is widely discussed in the media.
As an American, it does matter to me if America wins at the Olympics or not. I am a proud citizen of the United States, and it is important to me that my country reflects a top skill level and form. I get excited when America wins Bronze, Silver, but especially Gold medals!
I would be a liar if I said I didn't care at all who wins. While it would be nice if America won, I would be pleased to see the best athlete win, regardless of their nationality. The purpose of the competition is to bring athletes from different nations together in friendly competition. These young people are phenomenally talented and they have worked extremely hard to get there.
America is predicted as the winner at the Olympics again. So? We have a larger population and the money to pay for all the fancy trainers and facilities. The Olympic training center in Colorado has everything, and keeps getting upgrades. How are smaller countries really expected to compete? There are certain games that I will pay attention to like Hockey. However, certain events like Curling can never happen again and I would not notice.
As an American, it does not matter to me if America wins at the Olympics. I have never followed the Olympic events closely. Whether America wins or loses at the Olympics, I do not see it having an important impact either way. America winning at the Olympics does not prove anything important.