My answer would be, "it depends on the area you teach". If you teach social studies, sure.
If you teach math no. It would be helpful to be clinical, neither pro or anti obama. For example if you have a psychology class have them analyze his speech to see what it is aiming for and why. Perhaps have some listen and some see and let the kids see the difference in reaction. Have some listen for specifics and others for tone and see how they agree. In the social sciences the options are many. How is he using your subject. How does he use history(good and bad). In economics go through his plan for a stimulus package and see if it adds up(not even close, be he isn't unique in this lie).
It is VERY IMPORTANT not to be emotional. A teachers jobs is to teach, not to create a bias in any direction. In the end this is just another president and most likely he will be an average president, like bush. Neither great as Reagan or Lincoln or horrible like Carter and Nixon when he can't fix things. Facts are that the world is little different with him as president than it was with Bush.
In the end THAT IS WHAT MATTERS, America the most powerful nation the world has ever seen had another peaceful transition and remains a largely center country(slightly right of center) with a middle of the road policy. This is an important idea that is often lost, that our middle of the road ideas have really made us successful. This is a great government lesson that is embodied by the electoral college(basically this and the need for congressional candidates to win a district prevents fringe candidates from winning).
Sorry for being so long, basically if it can be related to your subject yes, if not no.
Patrick