Last night Will Ferrell appeared as George W. Bush and Tina Fey reprised her role as Sarah Palin on Saturday Night Live‘s half-hour live Election Update broadcast. Hilarity ensues.

Ferrel’s Bush:

I come to you tonight in the midst of a very important election between two very qualified candidates: the hot lady and the Tiger Woods guy…I thought it was time to give a proper, large scale ‘much love’ to McCain and Palin…"

Fey as Palin admits that:

I like to think I’m one part practiced folksy , one part sassy and a little dash of high school bitchy."

Bush replies:

For a little while I was trying to be folksy but after a bit, it just came off douchey..

….then gives his tragio-comedic interpretation of the Vice President’s role, as Dick Cheney had explained it to him. Enjoy the video!