2010 White House Correspondents' Association dinner

This is the second time that President Obama has addressed the White House Correspondents' Association (WHCA) annual dinner. The dinner raises money for WHCA scholarships for journalism students.

The video is 38 minutes long and worth watching. See also the C-Span coverage. Of course, knowledge of the happenings within the Capital Beltway is a prerequisite to understanding Obama's remarks, as well as some popular culture. Otherwise, most of it will seem like a series of "in jokes" for the Washington media.

The transcript can be found at Chicago Sun-Times. I love these

THE PRESIDENT: By the way, all of the jokes here tonight are brought to you by our friends at Goldman Sachs. (Laughter.) So you don't have to worry -- they make money whether you laugh or not. (Laughter.)

We do have a number of notable guests in attendance here tonight. Obviously I'm most pleased that Michelle accompanied me. She doesn't always go to these things. (Applause.) And there are few things in life that are harder to find and more important to keep than love -- well, love and a birth certificate. (Laughter.)

The Jonas Brothers are here. (Applause.) They're out there somewhere. Sasha and Malia are huge fans. But, boys, don't get any ideas. (Laughter.) I have two words for you -- predator drones. (Laughter.) You will never see it coming. (Laughter.) You think I'm joking. (Laughter.)

Speaking of 'tween heartthrobs, Scott Brown is here. (Applause.) I admire Scott -- a rare politician in Washington with nothing to hide. (Laughter.) Now, you should be aware that Scott Brown is not the only one with a salacious photo spread floating around. Recently David Axelrod was offered a centerfold opportunity of his own -- now, I did not know that Krispy-Kreme had a catalog. (Laughter.) But it's true.

I saw Michael Steele backstage when we were taking pictures -- AKA Notorious GOP. (Laughter.) Michael, who knows what truly plagues America today -- taxation without representin' --(Laughter.) My brother. (Laughter.) I did a similar routine last year, but it always works. (Laughter.)

Odds are that the Salahis are here. (Laughter.) There haven't been people that were more unwelcome at a party since Charlie Crist. (Laughter.)

Unfortunately, John McCain couldn't make it. Recently he claimed that he had never identified himself as a maverick. And we all know what happens in Arizona when you don't have ID. (Laughter.) Adios, amigos. (Laughter and applause.)

Funnier that last year's.