(I get annoyed when people cite Obama as being a black president! How about Grey? http://news.bbc.co.uk/1/hi/world/americas/us_elections_2008/...)
Black is a culture in the US as well as ethnicity. Barack Obama identifies himself primarily as an African American/Black as does most of the nation. Don't see what's wrong.
[1] http://en.wikipedia.org/wiki/Black_people [2] http://en.wikipedia.org/wiki/One-drop_rule
One of my favourite quotes, from a friend of mine (though I'm sure many others have said it), "We're all beige"
In the end, everyone is mixed, everyone is human.