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Colbert super PAC raises over $1M

Stephen Colbert's sway in the U.S. presidential election might be a joke, but he's got some real financial muscle.

The TV comedian disclosed yesterday that his Americans for a Better Tomorrow "super" political action committee had raised a staggering $1.02 million. PACs were required to submit their financial reports to the Federal Election Commission yesterday.

In a letter to the commission, Colbert was quoted as saying, "How you like me now, FEC?"

He raised the money by asking for donations from viewers of "The Colbert Report." He has used the PAC to highlight what he considers the absurdity of campaign finance law and the 2010 Supreme Court ruling that allows corporations and unions to raise limitless money to run campaign ads.

"We raised it on my show and used it to materially influence the elections -- in full accordance with the law," Colbert said in a news release. "It's the way our founding fathers would have wanted it, if they had founded corporations instead of just a country." -- AP

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