Charlie Sheen worked out for eight hours a day to build up his body, as he decided that he would have felt embarrassed at the film's premiere if he had to sit amongst people laughing while looking at him on screen in a singlet.
Richard Crenna asked Sylvester Stallone how he would feel if Crenna took a part in a spoof of the Rambo films. Stallone was all for it.
In the restaurant flashback, while they are spoofing Lady and the Tramp (1955), the restaurant scene from The Godfather (1972) is going on in the background. Director Jim Abrahams would later direct the Godfather spoof Mafia! (1998).
Jim Abrahams originally wanted Marlon Brando instead of Lloyd Bridges to play The President.
Martin Sheen: Benjamin L. Willard, his character from Apocalypse Now (1979). When he passes Charlie Sheen, they both say, "I loved you in Wall Street (1987)!", while giving each other thumbs up.