I think Bush and Cheney have had to deal with much worse over the years. The problem is that the more these sort of caricatures are hammered into the public's subconscious the more they become real. Even if this was intended as satire, the "Obama is a closet Muslim" meme is carried on and just like the "Bush is a complete idiot and the devil incarnate" mantra, a growing number of people will believe it without looking any further into it.
Also, this cover isn't even that funny.
