Read between the lines

Need to know:
palin is from the North.
Two different parties
Hilary is not a huge supporter of Barack since she ran against him
Palin is conservative religious
Hilary worked really hard to be president
Mccane is really old and could die "one heartbeat"

In order for that sketch to be funny, you have to have some sort of background in politics. You need to know that Hilary was a democratic candidate that was beaten by Obama. The two women there were from two different parties and therefore have opposite views on several key issues. You need to know the type of campaign race Hilary ran: uphill and with lots of opposition. Palin is from a small town in Alaska and was probably chosen to counter Mccanes incredible age. And because he is so old, there is a good chance of Palin becoming President if the two are elected.