Jay Leno was supposed to be the comedian at last night's White House Correspondents' Dinner, but his act didn't hold up after a hilarious speech given by the President himself, who took on everyone from Sarah Palin to Snooki.

It's a 38 minute clip, but worth watching, as the speech is consistently hilarious, or at least it is until about 17 minutes in, when President Obama leaves the stage and Jay Leno takes over. For those of you who can't watch the video, the Chicago Sun-Times has a full transcript here.

A Mocking Obama At The White House Correspondents' Dinner [Sun-Times]