HOLY SHITE FLASHBACK
Just found this clip. Obama jokes about the IRS auditing the President and Board of Regents of Arizona State University while delivering the commencement address at ASU in 2009. If you remember, the background to this story was that ASU chose not to award an honorary degree to Obama because he hadn't achieved a complete "body of work" in his life.
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FULL SPEECH
GREAT JOB BIG SIS
Start watching exactly at 1:50 for guffaw-inducing Janet Napolitano comment.