Clip from The David Letterman Show, as shown on Larry King Live yesterday:

David Letterman: As you know, Saddam Hussein has invited George Bush to a live tv debate. We now have the Bush administration’s response. Watch:

(Patriotic American music, picture of the White House)
Voiceover: The White House has gladly accepted Bagdad’s invitation to a tv debate. The debate will follow a conventional format. It will start by a three-minute opening statement by Saddam Hussein…
(clip of Saddam Hussein speaking)
… and will be followed by a three-minute retaliatory statement by George Bush.
(clip of missiles over Bagdad, houses exploding, etc)

It was sadly funny.