Ironically, laughing at Obama is the one thing that might goad him to action. McCain showed back in 2008 that Obama was amazingly thin skinned about being mocked. For a brief moment, McCain had some internet videos up making fun of Obama, portraying him as Moses parting the red sea when he talked about lowering the sea levels, or comparing him to Paris Hilton. Obama totally lost his cool at being laughed at, and became petty and mean about it. So naturally McCain stopped it ASAP. But it's out there, the way to get under Obama's skin is to mock him. I think that's why Saturday Night Live refuses to crack jokes about him. They know he'll be personally offended and won't laugh it off like every other president has.
So by making Obama look like a joke, they might make him ticked off enough to actually take a stand.