President Obama headed a fundraiser for Hillary Clinton Hillary Diane Rodham ClintonJoe Biden looks to expand election battleground into Trump country Biden leads Trump by 12 points among Catholic voters: poll The Hill's Campaign Report: Biden goes on offense MORE's joint fundraising committee Saturday night in New York.

The event, which will raise money for Clinton's campaign, the Democratic National Committee (DNC) and state parties, is being held at the home of Audrey and Danny Meyer, the restaurateur and owner of Shake Shack.

According to the Clinton campaign, there are about 65 attendees. Tickets cost $25,000, with co-chairs paying $100,000 and chairs $250,000.

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“It is a cliche that every election is the most important election of our lifetimes. This time, it’s true,” Obama said in his remarks, according to pool reports.

Obama said Clinton is prepared to continue the progress made over the past eight years.

“This is somebody who is smart, who is tough,” Obama said. “She’s displayed it again and again and again.”

“And then there’s the other guy,” Obama said.

Obama said Donald Trump Donald John TrumpBubba Wallace to be driver of Michael Jordan, Denny Hamlin NASCAR team Graham: GOP will confirm Trump's Supreme Court nominee before the election Southwest Airlines, unions call for six-month extension of government aid MORE, whom he called an “informercial” and a “reality show,” is “not qualified to be president and he shows no interest in even gaining the rudimentary knowledge required to make really tough decisions on a day-to-day basis.”

Obama said that if the election comes down to the wire, it won’t be “because of Hillary’s flaws, but because structurally, we’ve become a very polarized society.”

The president said there is a reason why the U.S. has never seen a female commander-in-chief.

"We as a society still grapple with what it means to see powerful women,” Obama said. “And it still troubles us in a lot of ways, unfairly, and that expresses itself in all sorts of ways.”