what does it mean to pray for the President?

We know Scripture tells us to pray for our leaders.  What, though, does it mean to pray for the President? How should we pray, what, specifically should we ask for? 

Franklin Graham comments on President Barack Obama's faith

On CNN,  Rev. Franklin Graham, son of evangelist Billy Graham, said that while President Obama was born a Muslim, he has renounced Islam and confessed Christ as Savior.  Give us your thoughts on Franklin Graham's comments.