Who would have thought that the fake candidacy of political satirist Stephen Colbert for President of the United States of South Carolina would end up with more cash on hand than the last serious man standing in the 2012 Republican presidential nomination contest?
The Texas Congressman Ron Paul continues accumulate delegates in Washington, Minnesota, Rhode Island, and Pennsylvania, potentially giving Mitt Romney a run for his money (no pun intended) in the upcoming Tampa, FL, GOP convention.
But, a new challenge is emerging for the quixotic 2012 presidential candidacy of the libertarian rockstar. Endorse Liberty, a PAC dedicated to support Ron Paul’s candidacy, has just $54,000 in the bank, a sum which pales in comparison to what Mitt Romney and Barack Obama’s Super PACs have on hand ($16.5 million and $5 million respectively).
Even Colbert's Super PAC Americans for a Better Tomorrow has more cash ($794,000) than Paul's Super PAC.
March documents filed with the Federal Election Commission show that Endorse Liberty raised just $13,000 against Colbert’s $44,000. The Super PAC was initially bankrolled by a unique $1.7 million donation from venture capitalist and hedge fund manager Peter Thiel.
To be fair, Colbert spent only $28,000, as he is not actually facing any political opponent. However, the TV writer, host, and comedian has no millionaire backers like Paul, Gingrich, and Romney; he'srelied on donations from viewers and fans of his popular Comedy Central show “The Colbert Report” by selling $99 “Super Fun PACs” containing random items such as tube socks, wrenches, and satirical signs.
So much for a PAC initially created as a parody of the newest form of political financing and organization sprung from the Supreme Court’s decision of un-limiting the amount of undisclosed money donated to political candidates and causes.
But, now the question becomes, what will Stephen Colbert do with his Super PAC money? It's clear that he is not using it for his own presidential bid, but will he donate it to Ron Paul? Or to Mitt Romney or Barack Obama?
Weigh in: What do you think Stephen Colbert should do with his Super PAC money in advance of the GOP convention in Tampa this summer?