Having spent a considerable portion of their first episode skewering Romney last week, the folks at Saturday Night Live's special "Weekend Update Thursday" program decided to lampoon President Obama, although in doing so, the mockery wasn't as full-throated and nasty as it was against Romney, who was portrayed as a plutocratic racist.

Comedian Jay Pharaoh portrayed the president as overconfident and somewhat delusionally optimistic about the nation's economic outlook, but Obama was spared mockery of his many gaffes. Romney, you will recall, was mercilessly taken to task last week for the comments he made at a private fundraiser, and made to look like a out-of-touch bigot in the process (see video below, MP3 audio available here)