Art Bell opens the phone lines for wide-ranging discussions following President Clinton's second inauguration ceremony. Callers share their thoughts on current events including the presidential swearing-in, Republicans wishing Clinton well, and various news stories capturing national attention. The show covers the attempted extortion of Bill Cosby by a woman claiming to be his illegitimate daughter, unrelated to the recent murder of his son Ennis. Steve Fossett's balloon adventure over northern India also generates discussion after his failed attempt to circumnavigate the globe due to airspace restrictions. Art reflects on political developments, including revelations from Dick Morris's book about his weekly meetings with Trent Lott and how this coordination effectively killed Bob Dole's presidential campaign by co-opting the Republican agenda through strategic political maneuvering.