Seriously?! Hot Air supplies the context:
This isn't a press conference, a speech, or even a White House briefing. It's a committee meeting. As Rich said, people used to poke fun at Reagan's notecards. Either he needs this much help to get through opening remarks in a normal business meeting, or he's become a little to attached to the TOTUS … and neither option makes him look very professional.
What does it say that the most powerful man in the world (theoretically, at least) can't even make it through a lowly committee meeting without reading off of a pre-determined script? I mean, doesn't every 9th grader in the country have to stand up and give some sort of speech in English class every year? If they can do it without teleprompters, why can't this supposed intellectual giant who graduated from Hah-vud?
It's no wonder that the world is collectively laughing at America right now.
There's my two cents.
PS - It also underscores how poor a candidate John McCain was that he couldn't soundly defeat Obama in the pre-election debates. Sheesh.