Because I am partisan and not a fan of President Bush, I initially found it offensive - a gut reaction. However, as I thought about it, and remembered the context of the situation (a dinner where presidents always make jokes, many a bit edgy) I began to soften my critisizm. Then I learned that Bush later took moments out of the program to make some very emotional and touching comments in regards to our soldiers abroad. Virtually everyone in the room(libs and cons and everything in between) said they were not offended and infact thought he hit the right tone between comedy and the reality of the situation.
So, I recommend you let this one slide, and vote John Kerry in November.