[Jeanette X]

This joke actually dates back to the Nixon administration, but it still works.

Bush is on vacation and he's swimming in the ocean. Suddenly, an undertow starts to drag him down, and he screams for help. A young man sees the President's distress and rushes into the water, and pulls him to safety, saving his life.

As soon as Bush stops coughing up seawater and regains his composure, he begins thanking the young man profusely.

"You've saved my life! How can I ever repay you?! I owe you a debt of gratitude, I'll give you whatever you want!" says Bush.

The young man just looks at his shoes, and mumbles:

"Look, just don't tell anyone, okay? If my Dad finds out that I saved George W. Bush he'll kill me!"