I'm gonna side with Steve on this one. Obama being POTUS should have nil impact on using the N word ... or anything else like it.
That's akin to being at a party and saying.. "Hey guys, we better watch what we say... there's 3 black people here tonight".

"If it turns out that President Barack Obama can make a deal with the most intransigent, hard-line, unreasonable, totalitarian mullahs in the world but not with Republicans? Maybe he’s not the problem."