El Rushbo extends an invite to the president. Take it, I say! If Rush really is the leader of the opposition, then why not talk to the opposition? (Can it be worse than talking to Iran and Syria? Er, don't answer that....) Obama is a cool customer who fairly easily held his own against Bill O'Reilly, who is at least as obnoxious as Rush (although Rush is admittedly smarter). What's the worst that can happen? If the concern is elevating Limbaugh, well, he's already been plenty elevated these past few days. And if Limbaugh acts like an ass and disrespects the president then all the more fodder for the idea that conservatives are nasty sore losers, which is a political winner for the White House. Hell, Obama might even win over some dittoheads. It would be an amazing political-cultural moment, that's for sure.
You may now proceed to ridicule me in comments.