For Trump's decision to fire actor Busey instead of rock singer Meat Loaf from his TV show earlier this month, Obama quipped: "These are the types of decisions that would keep me up at night. Well handled, sir."
Trump chuckled at some of the earlier jokes, but was clearly less amused as comedian Seth Meyers picked up where Obama left off.
"Donald Trump often talks about running as a Republican, which is surprising," said the Saturday Night Live actor, entrusted with providing some of the comedy for the evening. "I just assumed he was running as a joke."