That is a good beginning. The red all over doesn’t fit unless you are addressing communism. I think you should change red to something attributable to Obama but not obviously attributable. example: What is black and white and born in Kenya. What is black and white and chased wildebeests in its youth. Q: What is black and white and brown all over. A: Baracks B.S. I don’t know but the red thing falls flat.
Obama was probably chased by wilderbeests in his youth ;)
I'm guessing you're a fair bit younger than Piasa and I. During the cold war associating "red" with communist was a given, and the humor of the time reflected it....one of my favorite punchlines from the era:
"Rudolf the Red knows rain, dear." ;-)