Obama Pokes Fun at Self: Shows Marc Rubio How to Drink Water (VIDEO)

President Obama played the funny man Saturday night during the Gridiron Club dinner.

The Gridiron Club and Foundation is a prestigious journalistic organization in Washington, D.C. best known for its annual dinner, which typically hosts the American president as a guest. The dinner is based on good humor, which President Obama seemed to bring plenty of on Saturday.

"Before I begin, I know some of you have noticed that I'm dressed a little differently from the other gentlemen. Because of sequester, they cut my tails," Obama quipped during the opening of his speech. The president then went on to excuse himself and his bad humor by stating that his "joke writers have been placed on furlough."

Even without joke writers however, Obama managed to keep the crowd laughing.

"Of course, there's one thing in Washington that didn't get cut - the length of this dinner," the president continued during his speech. "Yet more proof that the sequester makes no sense."

Obama also addressed criticism that the White House had received from Bob Woodward, associate editor of the Washington Post who earlier this week accused the administration of intimidation following a comment made by White House economic adviser Gene Sperling. The adviser had suggested that Woodward would "regret taking a position on one of Obama's policies."

Woodward, who began as an investigative journalist, was one of the first to heavily report on the Watergate scandal which led to the eventual resignation of Richard Nixon.

"Now I know that some folks think we responded to Woodward too aggressively," Obama said. "But hey, when has - can anybody tell me when an administration has ever regretted picking a fight with Bob Woodward? What's the worst that could happen?"

Click HERE for a full transcription of the speech.

The president also poked fun at Republican Rep. Marco Rubio whose sip of water haphazardly went viral on the Internet and became an SNL skit.

"That, Marco Rubio, is how you take a sip of water," Obama said, taking a deliberate pause mid speech to take a drink of water.