Obama: Don't Focus on Material Things

May 14, 2009 -- President Barack Obama told the graduates of Arizona State University their best achievements are still to come and titles, even one like "president," say little about success.

In his first commencement speech as president, Obama wasted no time before addressing the recent controversy surrounding his invitation from the university.

Obama started off by joking that he would address "that little controversy everyone was talking about a few weeks back."

When it was announced that he would deliver the commencement, ASU said it would not confer an honorary degree on Obama, because he had not built a "body of work" yet.

After much public debate, the university backtracked and established a scholarship in his honor. The "President Barack Obama Scholars Program" will provide up to $17,000 annually to selected ASU students.

Obama, a graduate of Columbia University and Harvard Law School, did not dispute the notion that he had not achieved enough in his life.

"I come to embrace it; to heartily concur; I come to affirm that one's title, even a title like President, says very little about how well one's life has been led –no matter how much you've done, or how successful you've been, there's always more to do, more to learn, more to achieve," he said.

"I have to tell you," Obama joked. "I really thought it was much ado about nothing, although I think we all learned an important lesson. I learned to never again pick another team over the Sun Devils in my NCAA bracket. And your university President and Board of Regents will soon learn all about being audited by the IRS," he said to the 9,000 graduating seniors at the university's Sun Devil Stadium.