President Obama Slow-Jams the News on Fallon

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CHAPEL HILL, NC - APRIL 24: U.S. President Barack Obama speaks with host Jimmy Fallon during an appearance on Late Night with Jimmy Fallon at Memorial Hall on the UNC campus on April 24, 2012 in Chapel Hill, North Carolina. Obama made an earlier appearance on the campus as part of a effort to get Congress to prevent interest rates on student loans from doubling in July. (Photo by Chuck Liddy-Pool/Getty Images) Photo: Pool/2012 Getty Images

On Jimmy Fallon's so-called "Holy Crap" edition with Barack Obama Tuesday night, the President made his entrance to loud cheers at the University of North Carolina at Chapel Hill and then slow-jammed the news with the Fallon and house band the Roots. (The actual walk-on song, a subject of great debate here earlier, was played when Obama sat down with Fallon.)

"Now there's some in Congress who disagree," Obama sang, the Roots playing softly in the background. "They say keeping the interest rate low isn't the way to help our students. They say we should be doing everything we can to pay down the national debt. Well, so long as it doesn't include taxing billionaires. But their position is that students just have to make this rate increase work. Frankly, I don't buy it."

And that's where Fallon stepped in, saying that the Barack-ness Monster will "feel-it-buster" if Republicans filibuster legislation to keep student interest rates low. Incidentally, Mitt Romney now says he supports Obama's position on that. The president also spoke passionately later on, but not in rhyme, about the student loans quandary. "Now is not the time to make school more expensive for our young people," he said.

As for Romney, Fallon posed a question originating on Twitter, asking if he were in the same room as Mitt Romney, what would he say. That elicited the response, "Hey, Mitt." How cordial. Obama then added, "I've met him  ... but ... we're not friends," and then he complimented Romney's wife, which is always a good idea.

And, of course, every crowd-sourced set of questions for an official seeks comment on the legalization of marijuana. Watch and see how Obama tackled that one.