"The guy is so arrogant, I bet he talks about himself in the third person," a grinning Obama said as he slipped into Colbert's role last night.
After Colbert praised US unemployment figures, Obama launched into a long answer on the need to raise the minimum wage in America.
"I'll give it to you. You've employed a lot of people ... mostly as secretary of Defence," Colbert said, speaking several days after Obama nominated his fourth Pentagon chief in six years.
Prying into the realm of day to day stuff, Colbert asked Obama if he does things like leave his socks on the floor.
"I do," the US chief executive said.
And does he like his job?
"I love the job. It's an incredible privilege," Obama said.
"But when you're in it, you're not thinking about it in terms of titles. You're thinking about, how do you deliver for the American people, and also when I go home, Michelle, Malia, Sasha give me a hard time and there are no trumpets and they tease me mercilessly," Obama said.
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