That is an interesting juxtaposition and etymology.
Why is it that "Punk" might be known both as a burning stick and a homosexual, and "faggot" can also be a burning stick and homosexual.
I wonder where these terms started diverging in meaning.
I've never heard the word "punk" used to label a homosexual. I've heard it used as a burning stick for lighting fireworks, and as a label for a person, usually a male, who acts tough but is weak inside.
Obama is a punk.