President Bill Clinton appears on David Letterman show

Kwala Mandel
The Difference

President Bill Clinton has livened up talk shows by playing "Heartbreak Hotel" on the saxophone on Arsenio Hall, admitting the appeal of a "Dancing With the Stars" invitation on Rachael Ray, and chatting with David Letterman about Chelsea Clinton's wedding. On Wednesday night, he returned to the "Late Show" to discuss "The Decade of Difference" concert celebrating his 65th birthday and charitable work, and during the visit he set Letterman up for a joke that had the audience in hysterics.

"One of the best things about Americans is that we don't really resent other people's success," said Clinton. Letterman didn't miss a beat. "Well, what about Leno?" the talk show host demanded competitively.

"There's an exception to every rule," joked Clinton, causing the audience to break into even more laughter. Meanwhile Letterman looked only too pleased to be called out as a model of bad behavior by the former President (or perhaps he was making that joke at Leno's expense, and not his own).

Watch the segment below, courtesy CBS:

Clinton delivered another friendly dig after Letterman's compliment that he looked "wonderful" and "better than ever."

"When you get to be our age, all you have left is bright clothes and BS," laughed Clinton. "And you've got the corner on the BS."

But clearly the two have a bond that goes beyond jokes. They shared a touching moment during the interview where they both discussed their past heart surgeries (Clinton had quadruple coronary artery bypass surgery in 2004 and Letterman underwent a quintuple bypass surgery in 2000). Clinton gave Letterman healthy diet tips, along with some advice to cut down on chocolate. The two also discussed serious issues such as the economy and trade relations with China, as well as the protestors on Wall Street. "They're going to have to transfer energy to making specific suggestions," advised Clinton, who also said that one of the biggest tools to improve the economy would be more actively resolving the mortgage crisis.

Letterman concluded by complimenting Clinton on both his hair products ("I've got to get the name of your conditioner," he joked) and his charitable work. President Clinton will be the guest of honor at "A Decade of Difference," the upcoming concert celebrating 10 years of the William J. Clinton Foundation. The Hollywood Bowl event will feature performers including Kenny Chesney, Usher, K'naan, Juanes, The Edge and Bono, and Lady Gaga. "In deference to my diet, she'll be going meatless that night," he laughed. Watch the full concert live only on Yahoo! starting at 7 p.m. ET on October 15.