For his second term, President Barack Obama will be making big changes! The President kicked off his hilarious White House Correspondents' Dinner speech at the Washington Hilton in Washington, D.C. on Saturday, Apr. 27 by joking, "Second term, baby!"

"I recognize that this job can take a toll on you. I understand that second term you need a burst of new energy and try some new things," Obama, 51, said. "My team and I talked about it and we're willing to try anything, so we borrowed one of Michelle's tricks."

He then launched a slideshow of funny Photoshopped images of himself sporting his wife's famous new bangs. "I think this looked pretty good, but no bounce."

The President also made a joke about the controversy surrounding Jay-Z and Beyonce's recent visit to Cuba. "I've got 99 problems and now Jay-Z is one," he quipped.

After Obama's speech, Conan O'Brien took the stage and kept the jokes coming. The late night host made a joke about the President's focus on job creation. "Since he was reelected," he said, "the number of popes has doubled and the number of Tonight Show hosts has tripled."

O'Brien, 50, also compared the Correspondent's Dinner to a high school cafeteria. "Fox is the jocks . . . bloggers are the goths . . . NPR is the table for kids with peanut allergies," he joked. "Al-Jazeera is the weird foreign exchange student nobody talks to."

Watch President Obama's 2013 White House Correspondents' Dinner speech in the video above.