Update: "The View" reinterprets the song after the jump!
Lines such as "Hillary hated on you, so that [vulgar term for a woman] is irrelevant," "McCain don't belong in ANY chair unless he's paralyzed," and "Yeah, I said it 'cause Bush is mentally handicapped" were probably what prompted Obama's quick and outright refusal to endorse the song.
From the Guardian:
Obama's campaign team are not exactly singing along, however. "This song is not only outrageously offensive to Senator Clinton, Reverend Jackson, Senator McCain and President Bush, it is offensive to all of us who are trying to raise our children with the values we hold dear," said Obama spokesman Bill Burton.Ouch. Although Obama touted the rapper when asked what was his in iPod earlier this year, things may get a little chilly after this.
Conservatives are already using the song to cast negative light on Obama. Last night, Sean Hannity said, "This, to me, represents everything about Barack Obama. It shows his flip-flops, and it also shows yet another radical association. ... Ludacris in 2007 did a fundraiser for Barack Obama. They had meetings that were on the record in Chicago together."
UPDATE: Some of the ladies on "The View" perform a live remix, courtesy of the Best Week Ever blog:
Daily Swarm has transcribed the lyrics for your titillation/outrage. The track borrows the beat from Young Buck's "Get Buck" and appears on Ludacris' new mixtape "Preview."
[Guardian via Daily Swarm]