That was the word the faggot-guy used to defend Ann Coulter from any social disapproval associated with the word "faggot." A reader explains the provenance of the term:
We don't really think of it as much of a slur today, but as defined in Fast Times at Ridgemont High, which helped popularize it back in the day, it really is. Says one male movie character to another:
"You're a wuss - part wimp and part pussy"
The misogyny behind it - as behind so much homophobia - is pretty clear.
By the way, a reporter tells of another joke making the rounds at CPAC here. Anti-Mormon and anti-gay. What a wonderful carnival conservatism now is.