@ossobuco,
Gilda Radner used to do this commentary on the Saturday Night Live news segment. She played a character named Emily Litella who was hard of hearing and always messed things up just a little bit.
One other time I remember she was ranting about "flea elections in China" instead of "free elections in China".
In this one she was ranting about President Ford wanting to make "Puerto Rico a steak" instead of a "state". She said "the next thing you know they'll want a baked potato. Then they'll want a salad bar." She goes on and on until the anchor woman corrects her.
I can't find any of the skits on youtube, unfortunately.