The rush to demonize anyone of color with accusations of drug use, being foreign, etc is the death rattles of a system that is owned by mostly older, rich white men who realize that over 200 years of white privilege in this company is starting to slip away. As the last census report showed, non-white births have surpassed white births and this trend will continue to grow. Most people of Generation X, myself included, and younger, care little to nothing about race. We really couldn't give a shit less about whether you love someone of another race or the same gender. We don't care if you worship God, Allah, Yahweh, or no god at all. We don't tend to associate with people of our same skin tone alone and this scares the hell out of an older generation that still remembers the days before desegregation.
Barack Obama is the face of the era when bi-racial marriage first became legal and I think that explains some of the hatred. The older generation hates him for the things he represents, in addition to the things they think he is. You're looking at a man with a white mother and a black father, something that was (and still is) the fear of many white parents, that their pure as snow daughter would be corrupted by a black man.
Many of them can't comprehend how he could be more successful and smarter than them, and as the old joke that is still whispered around by old men in smokey Mississippi bars at 3pm goes "What do you call a black man with a PhD? A n****r". These are people who believe that solely by the color of their skin, they are automatically superior to everyone else and the thought of anyone of any other ethnicity being more successful or educated than they are is negated instantly because well, "goddamit, I'm white". I think of it as the racial game of rock, paper, scissors.
If a black man is murdered, it is blamed on gang violence. In the case of Trayvon Martin, media like Fox or The New York Post instantly dug up everything they could to portray him as the usual "scary black thug" which then meant "he had it coming".
If a black man becomes President, it was all part of some giant Communist/Fascist/Gay/George Soros/liberal media/atheist/Muslim jihad conspiracy because there couldn't be any way the man they think should be shining their wingtips and calling them "sir" would end up with the nuclear codes.
So, as the years come and go, the notion of "white privilege" and superiority will become more and more muted. Once the current population of The Villages in Florida is under the ground instead of at the polls, I think this will pretty much die with them.