The Fox News anchor has been in hot water recently over sexual harassment allegations which lead to a number of advertisers cutting ties with The O'Reilly Factor. Baldwin as O'Reilly addressed the claims, and had on one of his most vocal supporters: Donald Trump (also played by Baldwin).
The hilarious lampooning was made possible by pre-taping Trump's half of the conversation and allowing O'Reilly to work off of it, but it brought a fresh life to Baldwin's celebrated involvement in season 42.
O'Reilly thanked Trump for supporting him when it comes to the sexual misconduct claims, although Trump admitted that he didn't actually know much about the case.
"I'm more familiar with this case than I am with, say, healthcare, but I didn't really look into it too much, no," Trump explained. "I was busy being super presidential by bombing a bunch of s**t."
In the middle of O'Reilly's segment, he reminded viewers that he still had some very reliable advertisers who have weathered the controversy storm, such as "dog cocaine" and "Eliquis," a horse aphrodisiac.
Baldwin's Trump also opened the show with a sketch about the embattled president traveling to rural Kentucky – the heart of coal country – to see how his die-hard constituents feel about his recent military action against the Assad regime.
"I know you people put me in office for one reason: to bomb Syria," Trump said, addressing his devotees.
However, their concerns were one much closer to home – like the economy, the return of jobs, healthcare and the litany of promises Trump made during his election. Trump says he's going to have to scrap all the government services they desperately rely on, only to see them cheer him on anyway.
"It's like you found a finger in your chili, but you still eat the chili because you told everyone how much you love chili," Trump said, cheerfully.
Comedian Louis C.K. hosted this week's SNL, which was the first episode in three weeks. The brief hiatus gave the show plenty of material to hit the ground running when it came to lampooning American politics.