Saturday Night Live had their former "Barack Obama," Fred Armisen do the the hand off by giving the introductions in this skit, and although I think the newest member of their cast to take on the role of the President has a way to go in the being funny department, it's definitely an improvement over Armisen, who I didn't think was particularly funny and did a bad impersonation on top of that.
I guess we'll see how the character develops as the season goes on. I did enjoy Jason Sudeikis as the out of touch Romney and President Obama's "secret weapon" on the campaign trail and that they hit Ryan for being willing to lie about everything and anything as well.