Oh go ahead and watch his dumb movie! It'll just be a reminder of what he is (or was) - an actor. Actor. Not President, not even any kind of elected representative of anything. Just a "schmuck" who gets paid for saying lines on cue, kinda like a trained monkey that makes you laugh. I'd just use this as an opportunity to teach your kids the concept of "Shut up and Sing" and how to put the yammering of Hollywood and other performers in proper perspective.
I'll try bb, I'll try. Cousin Eddie is the funniest one in the movie anyway. Can't make any guarantees though 8^)