If we were talking about accuracy than it must be about Obama since he is the only black president... This is just a fictional set up, it isn't meant to be a 100% historical representation.
Well, it could represent both in the same time. Isn't the point of the song how the world can say what they want and expose the artist as they want but they cannot control her or make her stop loving what she do?
"I just love the music not the bling"
-Monica had black hair.
-JFK had an affair with Marilyn.
-The song itself says 'You're the Marilyn, I'm the president'.
-Kids/teens would probably recognise Marilyn more than Monica.
-Don't be stuck up and a snob and demand for us to 'learn our history'.
I dont understand why people make these ideas up. Everyone can interpret her performances in different ways, all that matters is what you thought and how you interpret it.