Set your watches. From AP…

They parodied politicians and presidential candidates in a popular Web video last summer. Now JibJab Media Inc., is back with an animated tribute to President Bush’s inauguration.

In “Second Term,” which will appear on JibJab’s Web Site Wednesday, four characters in bathing suits — Vice President Dick Cheney, French President Jacques Chirac, German Chancellor Gerhard Schroeder and British Prime Minister Tony Blair — throw their arms around each other and President Bush while singing to the tune of “She’ll be Coming Round the Mountain.”

A selection of lyrics, sung in the short by the Bush cartoon character:

“I will stabilize Iraq in my second term!

I will amend the Con-sti-tu-she-un!

Then I’ll eliminate the taxes,

That are breakin’ all our back-siz!

And push for more priv-vat-i-za-she-un!”

The video, like the spoof to Woody Guthrie’s “This Land is Your Land,” is the work of JibJab Media Inc., co-founder Gregg Spiridellis and his brother, Evan.

“Second Term” will be posted on www.JibJab.com and on www.Yahoo.com beginning at 12:00 a.m. Jan. 19, the day before Bush’s inauguration.

Update: Just watched it. Cute. Except for the sight of Jacques Chirac in a speedo. Yikes.

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