Doug R,
as I said earlier, to be effective as a caricature or satire, a work needs to exaggerate real characteristics (foibles) of whoever or whatever is being lampooned.    There are characteristics Obama has which could be so satirized (e.g., his tendency toward overly intellectual, academic sounding speech; his pausing often to weigh his words; even his knight-in-shining armor persona), but since he has never actually demonstrated any sort of disrespect for his country or its flag, never been a Muslim -- much less a supporter of Bin Laden, etc., there is really nothing funny about a cartoon depicting him in those ways.