"...Richard talks too slow
He'd get interrupted long before
I always loved that guy
But he's not on TV anymore"

"...He had the wherewithal
To get out before"

Longseason over at hipbase.com was the first to tie "Richard" with 1980's TV host Richard Dawson. Much of the evidence seems to fit, and it may or not be the inspiration for "The wherewithal."  An academic paper written on Dawson touched on his refusal to blend into the "Reaganization" of family friendly U.S. television of the 80's and early 90's, and subsequent relegation to the dinner-theatre circuit of show business.

Richard Nixon certainly had the wherewithal to get out before being impeached, but not before his reputation was ruined by the Watergate scandal of 1974.

Fellow Hipbaser Cferney adds that in Calgary, Gord once introduced "The Wherewithal" with: "This song is about Richard Nixon or Richard Dawson, take your pick."

"...You've gotta coax him slow
It's the only way that he'll confess
Tell him that the truth
Will help him live with this"

When Bob Crane was murdered in a sensational Hollywood crime that later spawned the film "Auto Focus," Richard Dawson was questioned as part of the investigation. Dawson was a co-worker of Crane's when both appeared on the campy 60's TV series "Hogan's Heroes." Dawson was never implicated in the crime and the case remains unsolved.

Nixon at first denied any knowledge of burglary of Democratic headquarters at the Watergate hotel in Washington. Eventually, as evidence mounted to the contrary, it became impossible to deny. Nixon was forced to resign the Presidency and was branded a liar.   

"...Richard died real slow
He won't get interrupted anymore"

In the 90's, Dawson gained in cult fame by having to publicly pronounce that he was not dead. Rumours of his demise (Most likely confusing him with fellow "Family Feud" host Ray Coombs) became so widespread, that Dawson occupied a privileged space over at a website called "Who2's I'm Not Dead Yet!" Sadly, Dawson passed away for real in 2012.

Nixon was tortured by the slow decline of his presidency, and began walking the halls of the White House, totally unable to sleep. Nixon despised the media, and after losing the 1960 election to Kennedy quipped: "They won't have Dick Nixon to kick around anymore."