The illustrator Overton Loyd posted the cover on the illustrator's forum a couple days ago with the thread title, "Perception is a Mutha..." He and I are the only ones who have commented on it there. He referred me to what his response was in The Nation, when interviewed for an article about the cover. In part, quote:
"Nothing beats a healthy debate but this "devoid of black illustrators" rag, not only promotes fear-mongering for Obama's presidency but for all people of melanin. I must admit I was relieved that they graciously omitted the humongous inner-tube lips that were a standard in my day. However, The New Yorker cover still misfires as it clearly demonstrates that pimpin' might not be easy, but it's a helluva lot easier than satire."

The Nation did a satire of the New Yorker cover, and in my opinion, it does hit the mark. It shows the New Yorker top hatted dude knocked out on the floor, Michelle in her normal dress and hairdo holding a sign that says "round 2", the flag back on the flagpole, the New Yorker cover burning in the fireplace, the picture of Bin Laden upside down, and Barack with this sleeves rolled up, having blackened the eye and knocked out a tooth of the New Yorker dude.

Let the discussion continue! LOL

The Nation satirical cartoon, Aug 4 issue

Don't forget to see Overton's great web site of his work, linked to his name above.