Is this joke in bad taste?

A reporter walks into a bar and sees Rumsfeld and Bush at the bar laughing.He walks over and asks what's so funny.Rumsfeld says, "The President and I were discussing his plan to bomb 40 million Iraqis and one big-titted blonde."The report exclaims, "What! Why are you going to kill one big-titted blonde?"Bush turns to Rumsfeld and says: "See, I told you, no one would worry about 40 million dead Muslims"