The hosts for the episode are Richard Benjamin (his second appearance) and Paula Prentiss, and the musical guest is The Grateful Dead (their second appearance). The skits for this episode are as follows: News Anchor Frank Reynolds reports that President Carter is now a hostage in the White House. Paula Prentiss begins her opening monologue, only to be confronted by Richard Benjamin, who is upset that his monologue was cut. A husband has an affair with another woman in a hotel room, but becomes overwhelmed with fear and guilt at the thought of his wife finding out. During the Weekend Update, Jane Curtain reports on the impending eruption of Mt. St. Helens and the results of the 1980 census, Bill Murray reports on Dan Rather going undercover in Afghanistan and George Bush reverting to his CIA training during a speech, and Al Franken explains how he cheats on his taxes. An assertiveness training instructor teaches her students how to stand up for themselves. A group of neighbors are joined together by their love of Joey Bishop. The Grateful Dead perform "Alabama Getaway" and "Saint of Circumstances".
—Jean-Marc Rocher <rocher@fiberbit.net>