The Fox News Wink: Is Obama "Gay"? or "Gay Gay"?
It's very important to understand that for Fox viewers, Fox is only the most visible part of a vast alternative reality. Fox's coverage of the news cannot be properly understood in isolation, but only in conjunction with the rest of that system—and especially the chain emails that do so much to shape the worldview of Fox viewers.
You cannot "get" Gutfeld's joke unless you "get" that a large part of his audience ardently believes that Obama is in fact gay, that his marriage is a sham, and that Mrs. Obama leads a life of Marie Antoinette like extravagance to compensate her for her husband's neglect while he disports himself with his personal aides.