It's predictably infantile enough, based on the clip I saw. It takes place while Bush 41 is president, and Lil' (sic) Bush and Lil' (sic) Cheney, et lil' al. won the softball game for Team Halliburton by getting revved up on crack. 41 says that cheating is fine if it wins back the trophy (apparently a reference to the 2000 election), and a knowing evil laugh is had by all. Dubya is portrayed as diabolical, but still an ignoramus, natch.
The correct contraction for "little" is li'l, of course, not lil'. This incorrectly punctuated graphic passed before literally hundreds of people at Comedy Central who apparently find the show funny.
Not a single one of them caught it. Irony knows no measure these days.
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