The ultimate manifestation of his and Stewart’s “clown nose off, clown nose on” comedian/commentator duality. Sure, it’s a gag, sure, it’s easy material for the next year — but while they’d never admit it, deep down they’re curious to see just how seriously people take them. On Sunday Howard Kurtz called Stewart the biggest influence on network news anchors these days, a claim Stewart himself doubtless would scoff at theatrically (clown nose on) … before proceeding to lecture a bit about media ethics (clown nose off).

How serious is Colbert about this? This serious. It sounds like he’s going to try to run in both primaries, although the Democrats are momentarily a little iffy about that idea. As far as affecting either race, young conservatives looking for a protest vote will opt for Paul but if Hillary’s way ahead on primary day, you might see young liberals toss a percent or two his way. And if they do, Stewart’s and Colby’s cheering section in the media will be absolutely insufferable about it.