Richard Nixon gives Fred investment advice, which backfires and is in danger of losing the bar. Nixon tries various ways to raise money for Fred. The regular patrons band together to help save the bar by recording a song a la " We Are The World."
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Nixon plans a scam for his Cub Scout troupe, is caught, impeached from the Scouts, and in his shame runs away. George Bush fantasizes about not being a wimp and becomes George Bond. Nixon returns with a new scam involving man’s best friend and a monkey.
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Reagan attends a meeting of the defense department to learn about a new "A" bomb the size of an audio cassette, and then mistakenly gives Fred the cassette as a Christmas present. Gerald Ford then tries to disarm the bomb.
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Caught up in the presidential campaign, Fred has a nightmare about zombie politicians. Mr. Rodgers broadcasts his show from Russia and ends up in prison. Betty White makes an appearance as a stripper for Jimmy Carter’s birthday.
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John Madden gives Fred a mechanical bull for the bar. Gerald Ford tries to ride it but gets thrown off head first into the wall. Jesse Jackson performs an uplifting song with Dolly, Barbara, and Cher singing backup.
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Barbara Walters, Sam Donaldson, Ted Kopel and Dan Rather do a song and dance. George Bush, in an effort to get into the spotlight, falls into a well. Fred rescues him, but his moment of glory is over shadowed by Sean Penn and Madonna’s breakup.
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George Bush brainstorms for ways to get Reagan out of office. He tries to hypnotize the president but it backfires and he turns himself into "RoboBush." Jim and Tammy Bakker plan a movie version of their lives starring Sean Penn and Madonna.
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Ronald Reagan parachutes into D.C. Follies to hear Woody Allen’s paranoia about becoming a father. Martin Mull has trouble getting a drink while Nixon, Ford, and Carter badger him for campaign contributions.
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