Because as stated in post 24, being a US citizen isn't enough. The law requires the US citizen ( the parent ) to have lived ten years in the U.S., five of those years after her 16th birthday. She was only 18 when BO was born. Thus she did not meet the requirement that she had to live for 5 years in the US after her 16th birthday, Therefore she cannot pass on citizenship. Thus, BO would not be a natural born American Citizen.
So according to this logic, if both parents of a child are under 23, that child is ineligible to be president. Or if one parent is under 23 and the other isn't a US citizen (or was naturalized). Or if the parents are over 23 but spent some time abroad after their 16th birthday.