Colbert vs. the President

I watched Stephen Colbert at the White House Correspondents Association banquet last night, live on C-Span -- I stumbled across it while channel surfing -- and to tell you the truth I thought he just barely managed to stay afloat. According to this story (thanks, Violet!) he thrust several knives into the President's heart, and I agree, Bush's smile seemed colder and colder as the routine went on.

But I thought he took the wrong tack. He could have gotten the whole room laughing together before he really went for the throat; instead, the pacing seemed a little off. He would build a joke for half a minute, hit the punch line, go on to something else. Strangely, the laughter seemed to be getting quieter as the routine went on, and I couldn't figure out whether he was dying or whether the sound on the C-Span broadcast was messed up.

He did get off a few good ones. My favorite:

Addressing the reporters, he said, "Let's review the rules. Here's how it works. The president makes decisions, he’s the decider. The press secretary announces those decisions, and you people of the press type those decisions down. Make, announce, type. Put them through a spell check and go home. Get to know your family again. Make love to your wife. Write that novel you got kicking around in your head. You know, the one about the intrepid Washington reporter with the courage to stand up to the administration. You know--fiction."

Update: A full transcript (thanks to Badger for the link)