Burt Lance was the head of the Office of Management and Budget for 8 months under Jimmy Carter.
Three Mile Island was the site of a nuclear disaster in March 1978.
"Baby blues" is also a term for a cute lady with blue eyes, so this episode's title is also a pun on Mork's finding a new lady-friend.
Mork makes reference to "that worthless US currency". In the 10 years prior to this episode the US dollar had lost half its value.