Lyrics:

G: Good evening
this is Mr. Gorbachev
R: Hello
Gorby
this is the White House
Ronald Reagan speaking
G: Hello
my old friend
how are you today?
R: Fine! It's time for our daily chess-match
are you ready?
G: Yes!
my last move yesterday was the Queen from A6 to B6
They both send their weapons into space
their people's problems they seem to displace
the arms-race is what they can't negotiate
why ain't it chess about what they debate?
What went wrong on the Gulf of Iran?
Why did the Russians invade Afghanistan?
Why not save the money for the armaments
and be chess-partners in the tournament?
Reagan and Gorbachev play chess on T.V.
The Senate is giving a party on the sea
The nuclear war will forever be banned
It's only their kings which they have to defend.