President Obama “Gay,” Michelle Obama “Tranny” ?!

Obama President Gay Rivers

Joan Rivers calls President Obama “gay” and describes Michelle Obama with a homophobic slur in a new video.

Asked by a street reporter whether a gay president or a female president will take office first, Rivers replied, “We already have it with Obama.”

“You know Michelle is a tr*nny,” she went on. “A transgender. We all know.”

As Gossip Cop previously reported, Rivers officiated a gay wedding on Monday.

Last week, she was threatened with a lawsuit for jokes she made about Kristen Stewart.

Check out the video below, and tell us what you think of Rivers’ comments ( via ).