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The host for the episode is Deborah Harry, and the musical guest is Funky 4+1 and More. The skits for this episode are as follows: Ronald Reagan invites Frank Sinatra to clear up the question of whether or not he's a hoodlum. For her opening monologue Deborah Harry introduces her parents in the audience, both of whom have the same hairstyle as her. A preview for a horror movie features leftovers that have been in the refrigerator too long. Game show host Phil Lively talks with a nurse from a retirement home about having his aging father live with with them. A man named Cooter has his life officially recognized as a Tennessee Williams one-act play. For the Rocket Report, Charles Rocket goes into Central Park to find out just how scary it really is. Jersey guy Paulie Herman goes to pick out a Valentine's Day card for his family and meets a New Jersey woman. During the Weekend Update, a spokesman for the Reagan administration announces that there are no poor people in America. Pinky and Leo Waxman go to Soho to visit their niece Susan in the hopes of setting her up with a boyfriend, oblivious to the fact that she's a lesbian. Valley girls Vickie and Debbie bump into Tina, a former classmate who dropped out of school. Deborah Harry performs "Love TKO" and "Come Back Jonee", and Funky 4 + 1 More performs "That's the Joint".