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Sarah Palin Slams 'Nerd Prom' White House Correspondents Dinner; Obama Jokes on Sheldon Adelson (VIDEO)

Attendees of the White House Correspondents Dinner were treated to a fancy meal and a few laughs. However, several commentators took to social media to protest the event, pointing out that many in America are still suffering under an economy that continues to sputter towards growth.

The WHCD is an annual event where members of Washington's political community come together for a night of jokes, laughs and a good dinner, but not everyone was in a particularly light mood this year, as conservative commentators used the event to criticize those in attendance.

"That #WHCD was pathetic. The rest of America is out there working our a---- off while these DC a--clowns throw themselves a #nerdprom," Sarah Palin posted to her Twitter account @SarahPalinUSA.

"Yuk it up media and pols. While America is buried in taxes and a fight for our rights, the permanent political class in DC dresses up and has a prom to make fun of themselves. No need for that, we get the real joke," Plain posted.

She was joined by other right-wing media personalities who criticized the event. reporter Ben Shapiro took exception to the close ties that some journalists have with politicians.

"While 90 million Americans remain outside the workforce and 47 million remain on foodstamps, the politicians and the media that keep them in power toasted and roasted each other with aplomb," Shapiro wrote.

Not to be deterred, the President used his time wisely and received applause as well as laughs for some of his more humorous jokes during the event.

"Did you know that Sheldon Adelson spent $100 million of his own money on negative ads? You've got to really dislike me to spend that kind of money. I mean that's Oprah money," Obama said. "You could buy an island and call it 'nobama' for that kind of money," Obama said in reference to the large amount of money poured in to political action committees during the 2012 election.

"Sheldon would have been better off offering me $100 million to drop out of the race," he added. "I probably wouldn't have taken it, but I would have thought about it. Michelle would have taken it. You think I'm joking."

The President also used his podium time to poke fun at some of media's largest organizations.

"I know CNN has taken some knocks lately," Obama said. "I admire their commitment to cover all sides of the story, just in case one of them happens to be right."

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