I came across this literally minutes ago. I was doing a You Tube search of Stan Freberg and this was among the most recent uploads...a PBS special from 1982, according to the video's uploader. In the closing credits in Part 3 it states that the special has a 1980 copyright and so more than likely this was written as a response to Jimmy Carter's time in the White House.
In this special, Freberg shines the spotlight on the Federal budget being 600 billion dollars and the jokes and songs are aimed at the economy. Aside from it starring Freberg, the main reason I uploaded it is to make the comparison between the early '80s and 2012.
Pay close attention to the lyrics in the songs...quite a few lyrics foreshadow the future. In comparison to 2012 it's amusing that it's been the Democrats in Congress that have racked up the debt and there's not been any real budget to speak of since Obama took office in 2009. He delivered a laughable budget proposal that his own party rejected for being too expensive...but that bit of information was swept under the rug nearly a year ago to where hardly anyone remembers it.
Stan Freberg puts everything into this special...music, songs, jokes, and an overall big production.
Parts 2 and 3 are located below...