Barack Obama's the first gay President?

Check out the cover of this week's Newsweek magazine starring President Barack Obama. Following the Prez's announcement this week of his support for same sex marriage Newsweek deemed him to be the first gay President. Now POTUS has been the first sitting President to come out (pun intended) and express his support for same sex marriage but do you think this title is misleading or is it a honest depiction? Thoughts?