Not even President Obama can resist making fun of his Nobel Peace Prize. Speaking of Energy Secretary Steven Chu on Wednesday, the president pointed out that "he has a Nobel Prize in physics."

Then, off-script, Obama said, "He actually deserves his Nobel Prize." Chuckles.

According to some conservatives, the president is irretrievably arrogant. But this was a nice touch, even if it distracts from the real reason the Nobel Committee selected him.