The lyrics make reference to several items of 1970s nostalgia: the Ford Pinto, 8-track tapes, the classic television shows Good Times and Chico and the Man, and the band Led Zeppelin (in 1977, the song's characters would have been listening to the album Presence).
The song was used as a tribute to AM Radio Top 40 by John Records Landecker to open his Memorial Day show on the 2008 WLS (AM) "Big 89 Rewind".
As the first verse begins, the screen starts showing TV programs (i.e., The Brady Bunch, Kojak, Hawaii Five-O, H.R.
Pufnstuf, Sigmund and the Sea Monsters, Adam-12, Land of the Lost) with Art Alexakis' face edited onto some of the characters to make them sing with the song, or other well-known people, events and styles from the 1970s (i.e., Richard Nixon resigning, Jimmy Page, platform shoes).
Art Alexakis is wearing a Portland Trail Blazers jersey in honor of that city's professional basketball team.