That really is nothing at the annual correspondents dinner, last year wanda sykes was the selected comedian and she said something along the lines of "Rush Limbaugh said that he hopes the president fails, well I hope his [Rush's] kidneys fail."
And the part where he jokes about the news channels. Where Fox reports against him, MSNBC reports in favor of him and CNN's story is about the volcano and he says thats why CNN is the best name in News.