As shocking as it may seem, there’s a good chance that Christmas might not happen this year. During this hearing shown on C-SPAN, Santa and his helpers can be seen asking for a $25 Billion bailout package.

“It used to be a baseball bat and a puppy, now it’s gold plated ugg boots- it’s killing us up there!” a distressed Santa complains.

Apparently, reverse engineering ipods and manufacturing 700 million of them isn’t as easy as people think. Not to mention the fact that the Santa Claus belief rate is at an all time low.

With the tanking American economy, it’s only natural that a short like this one show up. It takes the two biggest events of the year, Christmas and the $700 Billion bailout, and combines them in a 5 minute comedic masterpiece.

This is a classic. National Lampoon has done it again!