Bush Drinking?

I used to watch the Late Late Show back when Craig Kilborn was host. When Kilborn left, it became stagnant and formulaic. I was interested when Craig Ferguson was named host, but it didn't seem to come out of the post-Kilborn lull (or at least it was slow in being interesting). This clip is pretty funny... so I might check it out again.
EDIT: The link is dead but thanks to Youtube we have this: