Generally speaking, I find humor in it. We use it tongue in cheek to poke fun at the more ridiculous extremes in American society and culture. Just like any derogatory word pertaining to a group of people, it's somehow more acceptable when coming from someone belonging to said group, and it's usually only perceived as acceptable from someone outside the group if the intent is clearly lighthearted and not malicious.
The context and delivery you described it being used in wouldn't be so funny to me, though, as it feels like the speaker was serious. I don't like being associated with violence or stupidity because of gun laws, lesser educated people, or the decisions of my government.