Stephen Colbert's Super PAC Raises Over $1 Million

Tongue-in-cheek talk show host Stephen Colbert has long been satirizing the concept of the Super PAC, an organization that is allowed to raise unlimited amounts of money from corporations, individuals, unions, and other groups, which can then be spent on "independent expenditures," including political campaigns.

Colbert's Super PAC, Americans for a Better Tomorrow, Tomorrow, has raised a total of $1,023,121.24 since it was created last summer, revealed Shauna Polk, the treasurer of the committee in a letter to the Federal Election Commission that met the required deadline for 2011's financial filings, according to the L.A. Times.

Colbert addressed the figure in the same letter. "Yeah! How you like me now, FEC?" he was quoted as saying. "I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!" The pundit and funnyman was liberally borrowing from the Jay-Z song, "99 Problems."

After announcing his own intentions to run in the Republican primary race earlier this month, Colbert handed control of his Super PAC over to fellow pundit Jon Stewart, who used some of the funds to purchase television air time in South Carolina in support of former candidate Herman Cain. Cain ran on the ticket as a last-minute replacement for Colbert, who was too late to get on the ballot. Colbert recently proudly announced on his show, The Colbert Report, that Cain received 1 percent of the vote as a result of their collective efforts, made possible by funds from the Super PAC.

On Monday, Stewart transferred control of the Super PAC back to Colbert.

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