A rodeo clown at a rodeo in California said into the loudspeaker something along the lines of, “Playboy is offering Ann Romney $250,000 to pose in the magazine, and the White House is upset because National Geographic only offered Michelle Obama $50 to pose for them.”
How is that racist? At best, he was referring to National Geographic’s publishing a lot of naked black people in it. Michelle Obama is black, is she not? And at worst, he was calling Michelle Obama an African. But that’s what she calls herself: African(-American). Michelle Obama values her African heritage more than her American heritage.
Should he have said it? No, but not because it’s racist; only because he should have known idiots would perceive it as racist. So call him an idiot, not a racist.