Earlier this week Donald Trump issued a challenge to President Obama that he would donate $5 million to the charity of his choice in exchange for a copy of his college transcript and passport application. Check out the presidents response on The Tonight Show with Jay Leno.

Chip Somodevilla/Getty Images

Also check out Steven Colbert of Comedy Centrals The Colbert Report's indecent yet hilarious offer to Donald Trump [CONTAINS STRONG LANGUAGE NOT SAFE FOR CHILDREN]