Would today's Obama comment to the British be considered racist or a well received joke?

"First I would, ahh, like to say it's a pleasure being here in the UK. I admire many aspects of your government including, but not limited to, your health care system...well all except for your dental plan. As we all know, you Limey's have, ahh, awful dental work...ahh, you look like a bunch of Special Olympic participants."
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The sad thing is that some people will believe this quote is real.
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