Because he is under no obligation to do so. The executive has independent powers that cannot be infringed, as do the legislative and judiciary. One of his inherent powers happens to be to act as commander-in-chief and gather FOREIGN intelligence in order to protect the country. Neither the supreme court nor the congress can take this power away without amending the constitution.

You obviously don't get the difference between internal-internal (i.e. Watergate) and internal-external (i.e. foreign powers) eavesdropping. One requires a warrant, the other does not for purposes of intelligence gathering by the commander-in-chief of our armed forces.

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