(Strip Number 4717, Original Publication Date, 19 November 1986)
Panel 1: We find Phil in the living room telling John and Lizzie that he need that he'd propose to Georgia sooner or later.
Panel 2: He ascribes the fact that it's later to his ambivalence about the whole thing.
Panel 3: Lizzie sets up the punchline by asking Daddy what the new word 'ambivalence' means.
Panel 4: When John says it's what you call when faced with an emergency, Phil recoils at the bad pun.
Summary: John sees himself as trying to smooth over hurt feelings with a bad pun because he sees himself as being a fount of wisdom and gentle humor. Everyone else sees him as what he is: an abrasive and insensitive jerk who delights in prolonging the misery of others for his own sick amusement.