Bozos is the story of a shoeless (shoes being a FT symbol for participating in the dominant culture) hippie's trip to the Government-sponsored Future Fair, a fair for all, and no fair to anybody. He's recruited for a visit by a passing bus, which senses his presence as he's outside in his neighborhood, and is invited by three holograms to get on and visit the future. On board the bus, he discovers it is full of Bozos, people who never take anything seriously and who avoid looking beneath the surface of anything they're presented with.
After befriending Bozo Barney on the bus ride, Our Hero strikes out on his own and visits the Wall Of Science, where he's treated to a Disney-like ride which depicts the ascent of Man through history, beginning with superstitious belief, and then giving way to Scientific explanations. After describing the development of industrialized society, it finally wraps up with a celebration of the Future which Science has made possible. Part of this Future is the Government, which is promoting itself as the solution to all problems via the Fair.
Ultimately the ride ends with a visit to an animatronic President (then Nixon), who is programmed to give "answers" to questions from visitors, embodying the Government as somehow having solutions for all problems. Our Hero (who after a moment's hesitation has selected Clem as an alias), turns out to be a programmer who sees beneath the illusion he's presented with, and when his turn comes, he circumvents the programming to access the underlying operating system and asks a question which breaks the logic circuit that interprets the questions and the ride shuts down.
After meeting back up with Barney, (uh)Clem discovers the park authorities are looking for him. While looking for a way to evade them, he ends up being detected and when confronted by one of the holograms which invited him to the Fair, he reprograms the system to create an electronic clone of himself which he sends into computer system which controls the park itself.
The clone confronts the security system guarding the memory systems of the Future's OS, and finally makes his way into the core level controlling all of the Future. Once he gains access, the clone confronts the underlying logic programming of the Future with logic bombs that lead the entire Fair to both activate and shut down at the same time, causing the Government-envisioned Future itself to cease to exist.
This tale fades into a Gypsy fortune teller (Clem) who has just wrapped up telling the future for Barney, who is mystified by the baffling tale he's just heard. The album ends with another fortune beginning, perhaps to lead to the same conclusion: that the future is unknowable and any certainty can be undone by forces unforeseen.